S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

US Markets in green on Friday; Dow 30 up over 345 points, Nasdaq Composite, S&P 500 up nearly 1%

US Markets were trading in the green on Friday with Dow 30 trading at 30,678.80, up by 1.14%. While S&P 500 was trading at 3,701.66, up by 0.98% and Nasdaq Composite 10,690.60 was also up by 0.71 per cent

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US Markets in green on Friday; Dow 30 up over 345 points, Nasdaq Composite, S&P 500 up nearly 1%
Earlier today, Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. Source: Reuters
US Markets were trading in the green on Friday with Dow 30 trading at 30,678.80, up by 345.25 points or1.14 per cent. While S&P 500 was trading at 3,701.66, up by 35.88 points or 0.98 per cent and Nasdaq Composite 10,690.60 was also up 75.75 points or 0.71 per cent. A Reuters report said that today’s strength was on the back of a report which said the Federal Reserve will likely debate on signaling plans for a smaller interest rate hike in December, reversing declines set off by social media firms after Snap Inc’s ad warning.

Source: Comex

Nasdaq Top Gainers and Losers

Source: Nasdaq

Earlier today, Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. The BSE Sensex ended at 59,307.15, up by 104.25 points or 0.18 per cent from the Thursday closing level. Meanwhile, the Nifty50 index closed at 17,590.00, higher by 26.05 points or 0.15 per cent. In the 30-share Sensex, 13 stocks gained while the remaining 17 ended on the losing side. In the 50-stock Nifty50, 21 stocks advanced while 29 declined.

Making a Home Business in Nutritional Counselling

Nutrition is described as the materials necessary (in the form of food) to support life. There is a belief, we as humans need more counselling on nutrition. This belief comes from the rising statistics of obesity, diabetes and our aging population. But informing these groups of the nutritional benefits of certain food types is not going to change the way nutrition is viewed. We must look past counselling and explorer different avenues of why and how we can all benefit from nutrition basics.According to Dr. Lynn McIntyre, Professor at the Dalhousie University in Halifax, Nova Scotia, low income, single women, sacrifice their own nutritional needs for the benefit of their children. Other studies also show that low income families in general, sacrifice their nutritional needs because of the cost of foods at grocery stores. Somehow, low income families are slowly associating fast food as an affordable way to feed their families. To correct this, we must change the view that nutritional food is expensive food. By showing families what types of inexpensive foods can offer the most nutrition will begin to change that view point. But how do we communicate this critical information?Interesting enough, there are a few ways that we can communicate our message that nutritional health is important. The first is through using “Duplication”. Duplication is the act of seeing and replicating what we have seen. Creating a “community” vegetable garden and selecting affordable, easy growing vegetables and providing basic recipes that use these vegetables would begin encouraging basic nutritional counselling without saying a word. By participating in these community gardens, people will begin duplicating this behaviour in their own family gardens. Providing recipes with seeds and instructions on how to grow these vegetables would certainly be one way to communicate this important message. It can also serve as an advertising tool to other sources of information such as websites and blogs.We know that parents will sacrifice their own nutritional needs for the sake of their children, but why? A high percentage is due to their limited income. Publishing blogs and twittering about the deals at grocery stores and markets to get the most affordable and nutritional food would certainly be a benefit. Providing families a list of places to go where nutritional foods are inexpensive would also help send the message. Even daily blogs on local market specials would help. Publishing these blogs in community forums setup by the YMCA or health forums or even health focused social medias like P90X on Facebook would help communicate this message.Recently, friends came over who seemed to be lost when it came to cooking. Providing some basics information on meats, fruits and vegetables can be a bit dry, but when mixed into a cooking lesson, nutritional counselling turned into a fun filled, memorable event. Whether the cooking course is provided in your house or in the house of others, the message can still be the same. Creating and showing the elderly in their own homes how to cook healthy and what nutritional foods to pick up would be a great benefit. Perhaps providing oversized, large text recipes would also be a great idea to promote nutritional eating without getting into why. The only reason is because it tastes good.With easy to read recipes, recipes and seeds delivered to communities to help market your blogs, blogs that provide tips and local deals at grocery stores and markets and marketing these blogs to all types of community forums and social media, the important message of nutrition and its benefits can be successfully communicate to all.