Americans Rate President Trump Highest on Economy, Wall Street Responds

Americans Rate President Trump Highest on Economy, Wall Street Responds

Americans Rate President Trump Highest on Economy, Wall Street Responds

$DIA, $SPY, $QQQ, $VXX

Americans evenly divided in their opinions of how President Donald Trump is handling the economy with 46% saying he is doing a good job and 47% saying he is doing a poor job of making the US prosperous, according to researcher Gallup.

Wall Street’s main indexes were sharply higher in volatile trading Tuesday, supported by gains in financials, while technology stocks came under pressure again.

Overall the fundamentals are in place and earnings are expected to be strong, the reporting begins in earnest on 13 April.

Sentiment is positive overall on Wall Street

Spotify Technology SA (NYSE:SPOT) shares opened at $165.90, nearly 26% above the reference price of 132 a share set by the NYSE late Monday.

All 11 S&P sectors finished Tuesday in positive territory, with energy (+2.1%) being the top performer

The financials (+1.4%), consumer discretionary (+1.2%), industrials (+1.4%), materials (+1.5%), health care (+1.5%), and consumer staples (+1.4%) sectors also finished with solid gains, while the lightly-weighted utilities (+0.4%) and real estate (+0.3%) sectors lagged.

The most influential group, IT (information technology) finished higher by 1.0% The group’s turnaround helped boost investor sentiment, which has suffered in recent weeks amid a lack of sector leadership

The technology group has under-performed lately after pacing last year’s rally and a once positive start to Y 2018.

Likewise, the financial sector’s upbeat performance was also notable tailwind for investor’s positive sentiment.

Tuesday, the major US stock market indexes finished at: DJIA +389.17 at 24033.36, NAS Comp +71.16 at 6941.28, S&P 500 +32.57 at 2614.45

Volume: Trade on the NYSE came in at 900-M/shares exchanged

Advancing issues outnumbered decliners on the NYSE for a 1.74-to-1 ratio and for 1.50-to-1 ratio on the NAS.

  • NAS Comp +0.6% YTD
  • S&P 500 -2.2% YTD
  • DJIA -2.8% YTD
  • Russell 2000 -1.5% YTD

HeffX-LTN’s Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
3 April 2018 QQQ 155.46 Bearish (-0.27) 154.50 155.76
3 April 2018 DIA 237.39 Bearish (-0.34) 235.42 238.35
3 April 2018 SPY 260.13 Bearish (-0.32) 259.11 260.94

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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