365 Stock market news

Wall Street futures contracts pointing on stability at the start of the trading day at the leading indicators,after last week the stock exchanges completed a third consecutive week of declines.

The price of the oil is rising:

The price of the oil went up by 1.5% to a around price level of 48 dollars a barrel, a record of about six months.
The rise came after the US investment bank Goldman Sachs raised its target price for the oil from 45 dollars a barrel to 50 dollars by the end of 2016.

Disappointing news from China:

Line of disappointing economic news published in China during the weekend,and they confirmed that the world’s second-largest economy is experiencing a slowdown.
The industrial output, investment and the retail sales in April, all rose by less than expected.

Industrial output increased in the past month by 6% on an annualized basis, compared to a forecasts of 6.5% and an increase of 6.8% in March.

Investments in fixed assets were up by 10.5% on an annualized basis, compared with expectations to a rise of 10.9% and 10.7% in the first quarter of this year.

The retail sales slowed to a level of 10.1%, against an expectation of a sharp rise in of 10.5%.

Wall Street stock markets closed another negative week.The S&P 500 went down by 0.5% last week and closed at his lowest level of the month, 2046.61
It was the index’s third consecutive week of decline.
The Dow Jones index fell last week by 1.2% and closed at his lowest level since late March, 17535.32.
It was the Dow Jones third week of decline.
The NASDAQ Composite Index lost 0.4% on a weekly summary, a negative week for the fourth consecutive time and ended at the price level 4717.68.

Last Friday the price of the oil retreated from a high of six months but finished his fifth weekly gain in six weeks, due to expectations that global oil production will decline, together with the recovery of demand, will help to reduce the excess supply to global oil markets.
On a weekly summary the price of the oil went up by 3.5% to a price level of 46.37 dollar per barrel.

The US dollar strengthened last Friday to a record of six weeks and on his way to a second consecutive week of rise, after the retail sales data and a stronger than expected consumer confidence published in the US reinforced expectations that the Federal Reserve may raise interest rates this year.

In view of the strengthening of the dollar, the price of gold fell last week for the first time in three weeks, and closed at a price level 1274.3.

Disappointing UK Industrial Production

The UK manufacturing output rose by 0.1% in March, contrary to the forecasts of 0.2%.
Summarizing the quarter, the manufacturing output in the UK contracted by 0.4% in the first quarter of the year.

NZD/USD

On a daily chart we can see that the latest trend of the pair were an up trend.
On Monday the pair broke down the diagonal support line which supported the pair.
In latest hours, the pair is re-testing the area that was broken down.

We can see it much clearer on 4 hours chart.

As long as the pair doesn’t climb back above the diagonal line, and if this line will become to be a resistance, it will give us a sign of the end of the up-trend, and it will be an opportunity for us to join in with the new move down.
The area of 0.6800 should act as a resistance, and from there we will be looking for a strong bearish pattern that will bring us to action.

For Forex traders:

Sell between the levels of : 0.6800 – 0.6770.
Stop loss point : 0.6850.
Take profit point : 1.6650.

For Binary options traders:
A put option between the levels of : 0.6800 – 0.6770.
Expiry time : May 13.

Amazon shares jumped by 3.4% yesterday and reached to a record high of 703.07 dollars.
The analysts of investment bank Bernstein estimated that the share price may rise by nearly 50% to the price of 1,000 dollars over the next year.
The bank analysts raised their target price for the online retailer the next 12 months from 770 dollars to 1,000 dollars.

Commodities

The price of a Oil barrel rising by 0.5% to a price level of 43.7 dollars per barrel.
The price of the Gold is going down by 0.2% to a price level of 1,264 dollars an ounce.

USD/JPY

Future trade opportunity.

The main trend of the pair is a downtrend.
On a daily chart we can see that the pair is on his way to test a descending diagonal line, as part of a technical correction (right now it stands at 109.05)

Around the level of 110.00 should be a resistance, once the pair will reach this level, we will be looking for a bearish pattern which would signal us about an opportunity to enter for a trade with the main downtrend.
We don’t have to wait for a bearish pattern only on a daily chart, we can also look for an entry situation on 4 hours and an hour chart,  as soon as the pair reached to the resistance area.

For Forex traders:

Sell between the levels of : 110.30 – 110.00
Stop loss point :111.10
Take profit point : 107.00.

For Binary options traders.
A put option between the levels of : 110.30 – 110.00
Expiry time : May 20.

 

An increases of 0.5% is expected on Wall Street.

The future contracts on Wall Street pointing on gains of around 0.5% at the leading indices at the start of the US trading day, after yesterday it ended in a mixed trend.