Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.92 % to 3,450.68. Hong Kong’s Hang Seng Index was down about 1.17% to 28,678.00.
Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.20 per cent at 29,768.06 on Sunday, while the broader TOPIX 100 rose 0.46 per cent to 1,266.11. South Korea’s Kospi was down by 0.36% to 3131.88.
The pan-European Stoxx 50 climbed up by 0.03% to 3,547.15. In the cash markets, the DAX futures Germany was trading 0.21% higher at 15,234.16. CAC 40 futures in France climbed up by 0.06% to 6,169.60, while the FTSE 100 futures in the U.K. fell by 0.38% to 6169.41,at the time of writing.
In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.89% at 33,800.60 the S&P 500 was up 0.77% to 4128.86 and the Nasdaq 100 up 0.63% at 13,845.38.
In the Forex market, GBPUSD fell 0.20% at 1.3706. The USDJPY was up 0.39% at 109.67. The USDCHF was down 0.02% at 0.9245. EURUSD was down 0.12% at 1.1898, EUR/GBP up 0.15% at 0.8685, at the time of writing.
In the commodity market U.S. Gold futures fell 0.77% at $1,744.60. Elsewhere, Silver futures fell 1.06% to $25.315 per ounce, Platinum fell 2.20% at $1,208.20 per ounce, and Palladium rose 0.50% to $2,641.50.
Crude Oil down on Sunday; Brent crude oil down 0.30% to $63.01 barrel while U.S. West Texas Intermediate (CLc1) fell 0.44% at $59.34.
In the Cryptocurrency Markets, BTCUSD at 59,505.34 down 1.86%, Ethereum at 2,116 down 2.45%, Litecoin at 256.873 up 10.66%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Amazon.com. up 2.21% at 3,372.20, Apple Inc. up 2.02% at $133.00, Facebook down 0.18% at $312.46, TESLA Inc. down 0.99% at $677.02, MICROSOFT Corp. up 1.03% at $255.85, VISA Inc. up 0.82% at $222.86, BOEING Inc. down 1.02% at $252.36.
U.S ZONE:- U.S. President Joe Biden asked Congress to sharply hike spending on global climate change, cancer and underperforming schools, but his first budget wishlist on Friday drew howls of bipartisan concern over military spending.
The $1.5 trillion budget, reflecting an 8% increase in base funding from this year, marks a pointy contrast with the goals of Biden’s predecessor, Donald Trump.
It would spread billions of dollars more across areas starting from the transportation system, poor schools, toxic waste area clean-ups, aid and background checks on gun sales, but spend nothing on border walls.
The budget “makes things fairer,” said Treasury Secretary Janet Yellen.
Yet the proposal was greeted by bipartisan scorn over its suggested funding for the Department of Defense, roughly even on an inflation-adjusted basis at $715 billion. The administration also cut an “Overseas Contingency Operations” account that even government bureaucrats said had come to function a fund for extra military spending.
Biden’s request displeased both liberals hoping to impose cuts and hawks who want military spending to extend to affect threats from China, Russia, Iran and North Korea – a reminder of the uphill battle Biden faces in delivering the policies he promised as a candidate beyond the COVID-19 emergency.
EURO ZONE:-The European financial institution should accept no further delay in lifting inflation back to its target because the current outlook is unsatisfactory and protracted misses risk damaging the economy, ECB member Fabio Panetta told Spanish newspaper El Pais.
The ECB has already undershot its nearly 2% target for eight years and its projections indicate that it’ll still miss for years to return as the bloc struggles to soak up the slack left behind a pandemic-induced recession.
With stimulus already near its limits, some policymakers argue that the ECB must simply accept a slower rise in price pressures rather than trying to try to do even more but Panetta rejected this argument, warning that the prices outweigh the advantages.
“The argument that we could extend the horizon to satisfy the aim isn’t a convincing one,” El Pais quoted him on Sunday as saying. “The ECB has did not reach its aim for too a few years already.”
“Waiting are going to be even more costly,” Panetta argued. “It would make it harder to re-anchor inflation expectations and that we would risk a permanent reduction of economic potential.”
The ECB ramped up stimulus last month but still only sees inflation rising to 1.4% by 2023, A level Panetta called unsatisfactorily.
TRADE SUGGESTION- BUY AT 1.1890, TAKE PROFIT AT 1.1990 AND STOP LOSS AT 1.1840.
TRADE SUGGESTION- SELL AT 1.3710, TAKE PROFIT AT 1.3660 AND STOP LOSS AT 1.3735.
TRADE SUGGESTION- BUY AT 109.60 , TAKE PROFIT AT 110.60 AND STOP LOSS AT 109.10 .
TRADE SUGGESTION- SELL AT 0.9245, TAKE PROFIT AT 0.9145 AND STOP LOSS AT 0.9295.
TRADE SUGGESTION- BUY AT 1750 , TAKE PROFIT AT 1800 AND STOP LOSS AT 1725 .
TRADE SUGGESTION- BUY AT 59,505 , TAKE PROFIT AT 59,705 AND STOP LOSS AT 59,405 .