Introduction:

In In the global indices market, Asian stocks show volatility, poised for a weekly decline ahead of crucial inflation data. European stocks ease after two consecutive days of gains, with fluctuations in major indices. Meanwhile, Wall Street concludes notably higher on Thursday, rebounding strongly with support from the semiconductor sector, as economic data sparks optimism about potential monetary policy easing by the Federal Reserve.

Market In Focus for today – S&P 500

Thursday witnessed a rise in stocks, with the S&P 500 bouncing back from its most significant decline since September, reigniting the year-end rally.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

Simple:

RSI (Relative Strength Index): 63.33| Buy Zone| Bullish

Stochastic Oscillator: 24.83|Sell Zone | Negative

Resistance And Support Levels:

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Buy Limit: 4730.14 | Take Profit: 4830.27| Stop Loss: 4664.20.

Dow Jones:

The Dow Jones Industrial Average recovered by as much as 326 points on Thursday following a significant stock market sell-off. Wall Street responded to a GDP report and unemployment data, contributing to the rebound.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

Simple:

RSI (Relative Strength Index): 61.83| Buy Zone| Bullish

Stochastic Oscillator: 13.72|Sell Zone | Neutral

Resistance And Support Levels:

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Buy Limit: 37256.99 | Take Profit: 38010.50| Stop Loss: 36793.30.

Euro Stoxx 50:

European stocks reduced initial declines and traded with a mixed outlook on Friday, despite a robust rebound in U.S. stocks following their worst session in months.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

Simple:

RSI (Relative Strength Index): 45.00| Neutral Zone| Neutral

Stochastic Oscillator: 36.35|Sell Zone | Neutral

Resistance And Support Levels:

Overall Sentiment: Bearish | Market Direction: Sell

Trade Suggestion: Stop Sell: 4514 | Take Profit: 4447| Stop Loss: 4564.

DAX 40:

The DAX 40 maintains a horizontal trajectory below its record high from mid-December, which slightly surpassed the 17,000 mark while staying above the low of 16,595 recorded on Wednesday.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

Simple:

RSI (Relative Strength Index): 50.98| Buy Zone| Bullish

Stochastic Oscillator: 34.71|SellZone | Neutral

Resistance And Support Levels:

Overall Sentiment: Bearish | Market Direction: Sell

Trade Suggestion:  Stop Sell: 16767.3 | Take Profit: 16549.0| Stop Loss: 16921.1.

Elsewhere in the Indices Market:

Asian stocks fluctuate, heading towards a weekly decline in anticipation of inflation data.

The Shanghai composite is down at 0.13%. Overall, the Singapore MSCI is up 1.23% to 277.07. Over in Hong Kong, the Hang Seng Index is down 1.69% to 16,340.41. In Japan, the Nikkei 225 was up 0.09% to 33,169.05, while the Topix index was up 0.45% to 2,336.43. South Korea’s Kospi down 0.02% to 2,599.51. Australia S&P/ASX 200 is down 0.033% to, 7,501.60.

European stocks ease after two days of gains.

The DAX futures contract in Germany traded 0.06 lower, CAC 40 futures in France flat 0.00% to 7,571.71 and the UK 100 futures contract in the U.K. up 0.19% to 7,709.29.

Wall Street concludes significantly higher, rebounding with a boost from chips.

Thursday saw U.S. stocks closing higher, reclaiming a significant portion of the losses from the preceding day. Optimism fueled by economic data, indicating a potential easing of monetary policy by the Federal Reserve, reignited investor risk appetite.

Indexes: Dow up 0.87%, S&P 500- up 1.03%, Nasdaq up 1.26%.

Corporate News:

Netflix, Inc. (NFLX) is up 0.48% at 491.61, Tesla, Inc (TSLA) is up 2.98% at 254.50, and Apple Inc. (AAPL) is down 0.077% at 194.68. Goldman Sachs Group Inc (GS) up 0.81% at 380.57, Morgan Stanley (MS) up 1.63% at 92.63.

Key Economic Events & Data Release Today:

(JPY) Monetary Policy Meeting Minutes at 5:20.

(GBP) GDP (QoQ) (Q3) Actual –0.1%, Forecast 0.0%, Previous 0.2% at 12:30.

(GBP) Retail Sales (MoM) (Nov) Actual 1.3%, Forecast –0.4%, Previous –0.3% at 12:30.

(CAD) GDP (MoM) (Oct) Forecast 0.2%, Previous 0.1% at 19:00.

(USD) Core PCE Price Index (MoM) (Nov) Forecast 0.2%, Previous 0.2% at 19:00.

(USD) New Home Sales (Nov) Forecast 695K, Previous 679K at 20:30.