. Daily Index News - Index Market News Update.

Daily Index News – Index Market News Update.

Daily Index News – Index Market News Update.

11 Dec 2023

Introduction:


In the Indices Market, Asian stocks experience a decline, testing rate cut expectations amid central bank meetings. Meanwhile, European stocks achieved nearly 22-month highs, influenced by a boost in the luxury sector. U.S. stock futures show a slight uptick ahead of the final Federal Reserve meeting of 2023.

Market In Focus for today – S&P 500

On Friday, U.S. stocks concluded on a positive note, as the S&P 500 achieved its highest closing levels since early 2022. This surge was driven by a strong U.S. jobs report, instilling investor confidence in the prospect of a smooth economic slowdown.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4577.32 | Positive Crossover | Bullish
  • MA 20: 4533.78 | Positive Crossover | Bullish
  • MA 50: 4465.81 | Positive Crossover | Bullish

Simple:

  • MA 5: 4574.07 | Positive Crossover | Bullish
  • MA 20: 4552.49| Positive Crossover | Bullish
  • MA 50: 4410.17 | Positive Crossover | Bullish

RSI (Relative Strength Index): 64.96| Buy Zone| Bullish


Stochastic Oscillator: 21.77|Sell Zone | Positive

Resistance And Support Levels:

  • R1: 4597.77 | R2: 4771.83
  • S1: 4491.09| S2: 4381.61


Overall Sentiment: Bullish | Market Direction: Buy


Trade Suggestion: Stop Buy : 4623.04 | Take Profit: 4771.83| Stop Loss: 4530.40.

FTSE 100:

The FTSE 100 is making gradual upward progress, attempting to reach the six-week high of 7,543 from both this week and last week, while traders anticipate the release of US non-farm payroll data.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7555.86 | Positive Crossover | Bearish
  • MA 20: 7522.21 | Positive Crossover | Bullish
  • MA 50: 7493.59 | Positive Crossover | Bullish

Simple:

  • MA 5: 7557.00 | Positive Crossover | Bullish
  • MA 20: 7520.54| Positive Crossover | Bullish
  • MA 50: 7489.89 | Positive Crossover | Bullish

RSI (Relative Strength Index): 63.34| Buy Zone| Bullish


Stochastic Oscillator: 100.00|Buy Zone | Positive

Resistance And Support Levels:

  • R1: 7574.9 | R2: 7706.7
  • S1: 7476.4| S2: 7365.0


Overall Sentiment: Bullish | Market Direction: Buy


Trade Suggestion:  Stop Buy : 7608.3 | Take Profit: 7706.7| Stop Loss: 7547.0.

Nasdaq 100:

Nasdaq recorded the highest closes since early 2022, following a strong U.S. jobs report, investor confidence increased, anticipating a smooth economic slowdown.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 15956.07 | Positive Crossover | Bearish
  • MA 20: 15848.29 | Positive Crossover | Bullish
  • MA 50: 15554.78 | Positive Crossover | Bullish

Simple:

  • MA 5: 15915.87 | Positive Crossover | Bullish
  • MA 20: 15969.67| Positive Crossover | Bullish
  • MA 50: 15390.10 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.66| Buy Zone| Bullish


Stochastic Oscillator: 27.35|Sell Zone | Positive

Resistance And Support Levels:

  • R1: 16106.71 | R2: 16739.79
  • S1: 15490.29| S2: 14857.22


Overall Sentiment: Bullish | Market Direction: Buy


Trade Suggestion:  Buy Limit: 15540.27 | Take Profit: 16190.01| Stop Loss: 15140.43.

DOW JONES:

The Dow experienced a marginal increase of 0.01% for the week, marking its sixth consecutive weekly gain. This streak represents its longest positive week since February 2019.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 36105.5 | Positive Crossover | Bearish
  • MA 20: 35513.6 | Positive Crossover | Bullish
  • MA 50: 34861.3 | Positive Crossover | Bullish

Simple:

  • MA 5: 36161.6 | Negative Crossover | Bearish
  • MA 20: 35518.4| Positive Crossover | Bullish
  • MA 50: 34370.9 | Positive Crossover | Bullish

RSI (Relative Strength Index): 64.96| Buy Zone| Bullish


Stochastic Oscillator: 47.07|Buy Zone | Negative

Resistance And Support Levels:

  • R1: 36201.30 | R2: 36761.02
  • S1: 35746.45| S2: 35291.59


Overall Sentiment: Bullish | Market Direction: Buy


Trade Suggestion:  Buy Limit: 35706.33 | Take Profit: 36162.26| Stop Loss: 35411.31.

Elsewhere in the Indices Market

Asian stocks ease, rate cut hopes to be tested in week of central bank meetings.

The Shanghai composite is down at 0.16%. Overall, the Singapore MSCI is down 1.01% to 272.57. Over in Hong Kong, the Hang Seng Index is down 1.60% to 16,072.93. In Japan, the Nikkei 225 was up 1.56% to 32,813.22, while the Topix index was up 1.18% to 2,351.73. South Korea’s Kospi up 0.26% to 2,524.30. Australia S&P/ASX 200 is up 0.06% to, 7,199.00.

European stocks reached nearly 22-month highs on luxury boost.

The DAX futures contract in Germany traded 0.78 higher, CAC 40 futures in France up 1.32% to 7,526.55 and the UK 100 futures contract in the U.K. up 0.54% to 7,554.47.

U.S. Stock futures show a marginal increase in anticipation of the last Federal Reserve meeting in 2023.

On Sunday night, U.S. stock futures exhibited a modest increase as investors awaited signals from the last Federal Reserve meeting of 2023 regarding the potential commencement of interest rate cuts by central bankers.

Indexes: Dow up 0.31%, S&P 500- up 0.47%, Nasdaq up 0.46%.

Corporate News:

Netflix, Inc. (NFLX) up 0.39% at 453.76, Tesla, Inc (TSLA) up 0.49% at 243.84, Apple Inc. (AAPL) up 0.74% at 195.71. Goldman Sachs Group Inc (GS) up 1.80% at 350.83, Morgan Stanley (MS) up 2.40% at 82.28.



Key Economic Events & Data Release Today:

No Major Key events today.