Let’s explore the reason for surging gains on US Stocks.
Stocks lifted on the back of report on rising Jobs in the economy in the month of June.
4.8 millions jobs were generated in the month of June, showing recovery from unemployment in US markets.
This lifted the investor sentiments on Wall Street
Stocks in Wall street ends in green territory in which Dow gained 92.39 points, S&P closed positively with 14.15 points gain and Nasdaq closed with gain of 53 points.
Asian markets are trading with green biased this morning. (8:00 A.M)
SGX Nifty is in positive note this morning. (8:00 A.M.)
Why US stocks hits all time high amid virus crisis?
A positive news on jobs front with 4.8 million fresh jobs generated in the month of June, showing sign of economy recovery. This is second straight month that indicating rising jobs report. The unemployment rate in the month of June also fell to 11.1% compare 13.3% in May.
The positive data on economical front has been the reason for surging stock markets around the world.
Federal Reserve comments to follow loosening monetary policy to spur the demand with no timeline is another positive development and resulted in the rally.
A key negative near future for equities is rising cases with US that tops the list. Many Governors in US are rolling back their reopening plans to control the fast spreading cases.
SGX Nifty is suggesting a positive start with rise of 0.70% at present time (8.00 a.m.). Indian Markets will start at around 10600 level. Asian markets are trading positive this morning.
Today Nifty has high probability of trading with positive bias. We recommend you to trade in Nifty future and expect target of 10640 to 10650 upside and stop loss 10500. Wait for dip and trade near stop loss.