@AlliesFin
The S&P 500 and the Nasdaq touched all-time highs on Thursday as investors looked past bleak economic data, while remaining focused on a COVID-19 vaccine, with the blue-chip Dow getting a boost from Boeing shares. Small cap Russell 2000 also inched up a bit higher.
Investors in Asia geared up for modest stock gains on Friday as U.S. legislators wrangled over a fiscal stimulus and negotiations over a Brexit trade deal continued. Markets in South Korea moved into fresh life high but stocks in Japan were trading down on some profit taking.
US dollar index dropped further into 30 month low at 90.7, 10 year bond traded lower below 0.91, Cboe Vix moved higher above 21.
Crude futures moved higher WTI nearing 46, Brent nearing 49 as risk on trade gaining momentum.
Both Nifty and Bank Nifty are witnessing some consolidation with minor upward bias but for traders stocks outside the index offer lots of opportunities to gain from. The big tailwind for EM equities and commodity in the form of relentless fall in $ index is a big theme to look for in the immediate future. The other themes that seems to be gaining momentum are outperformance of 'value vs growth' and narrowing the gap between performance of EM vs DM in favour of EM.
Traders may continue to trail the stop loss on individual positions.
Get daily dose of market updates on mobile join AlliesFin telegram channel
https://t.me/AlliesFin
By: via @AlliesFin Serve Stock Market
