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Alice Blue - Market Talk_Dec 23, 2020

Asian markets finished the day mixed following another record day – Morning Talk – Monday, December 23

Asian markets ended mixed day after another record day on Wall Street and stocks in Europe are rising as British jurists prepare for their first major vote on Brexit. By the country’s new conservative-dominate parliament Is sure to be approved.

A vote to approve Prime Minister Boris Johnson’s Withdrawal Agreement bill will set the UK to leave the European Union as scheduled on 31 January.

Europe Market

Britain’s FTSE 100 rose 0.1% to 7,585, while the CAC 40 in Paris rose 0.5% to 6,001. Germany’s DAX also increased by 0.5% to 13,283. US shares missed out on small gains and small losses, with futures contracts for the S&P 500 less than 0.1% and contracts for the Dow Jones less than 0.1%.

Major US stock indexes have climbed to record highs as investors welcomed the news that. Washington and Beijing had taken steps to cool their trade conflict.

US Treasury Secretary Steven Mnuchin said on Thursday that a preliminary trade deal with. China would be ready to be signed in early January. Mnuchin told CNBC he was “very confident” the deal would help open up Chinese markets for rebellion trade and more American products and services.

US Trade Deal

The deal with Beijing is said to be “just what I would do as a technical, legal scrub. ” Mnuchin said that he expected that American agricultural exports to China would double and American farmers would benefit. However, China has not confirmed any details of its plans for the purchase of American agricultural products. A Commerce Ministry spokesman in Beijing on Thursday only stated that the two sides were in “close communication”.

“Indeed, the ‘Phase 1’ agreement between the US and China has cleared a lot of uncertainties in the outlook for 2020. And revival trade is looking better and better day by day with global growth, equity investor Holiday Cheer, “Stephen Ines of AxiTrader said in a comment.

US markets have mostly ceased impeachment of President Donald Trump by the House of Representatives, choosing instead to focus on encouraging income reports from several large companies. Trump became the third US president to seek impeachment after voting in the House on Wednesday following allegations of abuse of power and obstructing Congress in an investigation.

“We know how it goes for months,” said Scott Ledner, chief investment officer at Horizon Investments. “It means that everyone has an opinion and whatever opinion that it is the price in the market.”

Asian Market

Japan’s Nikkei 225 index declined 0.2% to 23,816.63 in Asia on Friday and the S&P ASX 200 fell 0.3% to 6,816.30 in Australia. The Shanghai Composite Index lost 0.4% to close at 3,004.94. Hong Kong’s Hang Seng index climbed 0.3% to 27,871.35, while the Sensex in Mumbai rose 0.1% to 41,727.67. South Korea’s Kospi rose 0.4% to 2,204.18. The shares fell in Taiwan and most of Southeast Asia.

Benchmark crude oil on the New York Mercantile Exchange fell 25 cents to $ 60.93 a barrel in electronic trading. Internationally, Brent crude oil fell 18 cents to $ 66.36 a barrel.

The dollar fell slightly from the Japanese yen to 109.31 and the euro fell to $ 1.1100

 

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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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