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Stock market rally focuses on Covid-19 wave, TrumpKillsUS rises on Twitter trends


Dow Jones futures are trading lower, with traders continuing to weigh their appetite for riskier assets. Yes, we are making more progress in terms of the US stock markets. Still, the reality is that this is one of the most hated rallies on Wall Street among professional traders who believe there is a big gap between the real economy and the stock market rally. Furthermore, most of the strength that we see both in the US economy and in the world probably comes from fiscal and monetary policies.

The S&P 500 futures, as well as the Dow Jones futures, are expected to remain sensitive to the second wave of coronavirus, news related to US-China trade, and economic data. Steven Mnuchin, the US secretary of the Treasury, believes that the United States could be out of its recession by the end of this year. In my view, this is only possible if the United States can control the spread of the coronavirus. Munchin expects China to honor commercial agreement but also believes that “decoupling” remains a possibility. Again, it is China that the Trump administration is addressing. Beijing is unlikely to react well to any threatening behavior. Controlling the spread of the coronavirus is one element, and preventing the US economy from falling into another trade war that the United States cannot afford is a whole different world.

The breadth of the DJIA and S&P 500 market shows that there are more than 33% and 41%, respectively, of stocks trading on a smooth 200-day moving average.

The strength of the global stock market does not seem very solid today, as the Asian markets ended the trading day very mixed. In addition, the dynamics do not seem to be very strong on the European markets, even if we had a strong economic reading in the euro zone yesterday.

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Dow Jones Futures and S&P 500 Today

Dow Jones futures are trading down 115 points, the DJIA ‘index is expected to face many whipsaws today. Dow Jones futures traded between gains and losses during early morning price action, showing that the bulls may not be able to maintain momentum today.

The daily chart for the Dow Jones shows that the Dow Jones failed to exceed the 200-day moving average. We see another failure of the 200-day moving average test, which confirms that there is enough selling pressure for the DJIA index. But hopes are alive because the Dow Jones industrial average is still trading above the 50- and 100-day moving averages.

The weekly DJIA chart shows that we are still within the trading range of last week. The focus is on smooth 50 and 100 week moving averages, and whether Dow stocks can push the index above these averages.

The S&P 500 Index shows a better representation of the overall stock market, and it confirms that there is a tug of war between bulls and bears. Simply put, there is no clear direction, and therefore we are seeing more consolidation for the S&P 500 stock index.

Stock market rally

The recovery in the US stock market had another positive day yesterday, and the main indices closed with modest gains. S&P 500 stocks failed to hold on to most of their gains as traders made profits due to the spike in coronavirus cases in several hot spots. However, it is still hoped that billions of dollars of fiscal and monetary policy support will continue to fuel the stock market rally not only in the United States, but also around the world. The reality is that it is difficult to measure the real recovery in terms of economic sentiment and data when large parts of the economy are under emergency measures such as UK holiday schemes and controls. revival in the United States.

For example, the unemployment rate in the UK has been kept artificially low due to the holiday scheme, and as soon as the government starts to withdraw its support the consequences will start to appear. The current unemployment rate could well exceed 20%.

Similarly, in the United States, we have seen massive support from fiscal policy, and Treasury Secretary Steven Mnuchin talks about another stimulus package to help the Americans. We could probably see the stimulus plan come to light in July, which is next month. In his own words, “this is something we are considering very seriously”.

The S & P500 index closed 0.43% higher yesterday, and the Dow Jones rose 0.50% yesterday. Once again, technology stocks led the gains in the S&P 500 index. 8 out of 11 sectors closed in positive territory. American airlines
AAL
the stock was unlucky and remained the most significant drag on the S&P 500 index.

The S&P 500 is trading at a price / earnings ratio of 22 on a tracking basis, and the dividend yield is 1.93% on a 12 month basis.

NASDAQ
NDAQ
the tech-savvy index continued its record and closed higher with a gain of 0.78%.

Coronavirus: EU travel restrictions and new cases

The recent spike in coronavirus is due to the spread of Covid-19 in the United States and not because of test results, said Anthony Fauci, the United States’ leading expert on infectious diseases, yesterday. He told the White House that the coming weeks were essential to bring down the resurgence of the coronavirus. California and Texas have set a new daily record for their coronavirus cases, and the infection rate in Florida has also climbed above critical 10%. States will continue to fight this virus, and it appears that they are doing their best not to shut down their economies. States are having a tough battle, which is not easy to win, as evidenced by the words of the Governor of Texas who recently declared that he was not in favor of imposing a lockout. Anthony Fauci says the country has high hopes for a coronavirus vaccine, and there won’t be one until the start of next year.

The EU will ease its travel restrictions from next month and lists are being prepared for the countries from which travelers will be allowed. Given that the United States has not controlled the virus very well, one of the criteria in the entry list raises concerns that the United States is on the wrong list. If this turns out to be a reality, EU officials will likely face a brutal reaction from President Trump. The final decision is expected to be released early next week, which could lead to geopolitical tensions between the United States and the EU.

Trump News: “TrumpKillsUS” a major trend on Twitter

Trump made no mention of the murder of George Floyd, a black man killed in police custody, in his speech in Arizona. Trump even went further and joined forces with law enforcement, showing no sympathy for the Americans who protest police brutality.

“TrumpKillsUS” is another major trend on Twitter with over 72.3K tweets. Currently he is in fifth place with a team of people trying to push that to the front row. Before the elections, which may seem distant for now, such trends could create more obstacles for President Trump and the stock market.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

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