Morning Briefing: Major World Equities Market Indexes
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Overall global stock market indexes look Bullish in here, except Shanghai and DAX which could see some Neutral range trading during this week. PE
Notes: Last Friday was a record-setting day for the US stock market, with the S&P 500 (+0.6%) marking its 1st record close (2874.69) since 26 January. The NAS Comp (+0.9%) also marked a fresh record close, as did the small-cap Russell 2000 (+0.5%). DIA (+0.5%) advanced, but finished about 3.0% below its January record high.
The market extended opening gains after Fed Chairman Jerome Powell didn’t say anything upsetting in his speech at the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming. Mr. Powell reiterated that gradual rate hikes remain appropriate, adding that he doesn’t see any signs that inflation is getting out of hand.
Investors will not receive any notable US economic data Monday.
Monday in Asia
DIJA at 25790.35, +0.52% is trading above 25750 with 1st support at 25600 holding now, so with that being the case, the the blue-chip index looks Bullish to 26000+ now, record highs ahead.
DAX at 12394.52, +0.23% continues to trade sideways in here, for DAX there are equal chances of moving North or South to 12600-12700 or 12200 near term.
Nikkei at 22795.64, +0.86% is up sharply and could continue to move North near term, and this week we could see a test of resistance at 22800-22850.
Nifty at 11557.10, -0.22% must hold above 11600 to continue to move to 11800 or higher. Or, a fall to 11 500-11400 may be seen near term.
Have a terrific week