US markets surged on hope of Stimulus package amid US-China Conflict
Let’s explore the reason for surging Stocks on US markets.
US investors are hopeful of Stimulus package announcement lifted stocks.
Rising US & China tension after US government ordered to close China’s consulate in Houston on back of protection of American intellectual property and American private information.
Pfizer got $ 1.95 billion for 100 million doses of is experimental corona vaccine.
Asian markets are trading flat this morning. (7:00 A.M)
SGX Nifty is in green note this morning. (8:00 A.M.)
Why US markets rallied on Wednesday?
Stocks in US rallied on hope that US government will follow a similar move like European Union economical package of 750 billion Euro to support their economy. This has lifted the positive sentiments and all three indices closed in green territory.
After year of stability between US- China the relationship again took back seat, as US government planned to close the China’s consulate in Houston on back of protection of American intellectual property and American private information.
This is key rising along with rising corona cases around the world and may dampened the market sentiment.
Another positive for Pfizer company is US government stuck a deal of $ 1.95 billion for 100 million doses of is experimental corona vaccine.
Tuesday, Stocks around the world rose on historical stimulus package of 750 billion euro struck between leaders in Europe to put the economy on track. This is key positive development and lifted the market sentiment.
Dow Jones Industrial Average rose by 165.44 points, or 0.62%, close at 27,005.84.
The S&P 500 surged by 18.72 points, or 0.57%, ends at 3,276.02.
Nasdaq Composite Index increased by 25.76 points, or 0.24%, close at 10,706.13.US
Asian Markets In Morning
Indices
Current Value
Prev. Close
% Change
Nikkei 225
22,751.61
22884.22
-0.58%
Straits Times
2,602.67
2594.53
0.31%
Hang Seng
25,193.90
25057.94
0.54%
Taiwan Weighted
12,417.61
12473.27
– 0.45%
Kospi
2,215.02
2228.66
-0.61%
Jakarta Composite
5,137.64
5110.19
0.54%
Shanghai Composite
3,335.71
3333.16
0.08%
SGX Nifty
11,142.00
11130.00
0.11%
Time of data collection: 7.18A.M
Nifty 50 outlook for the day.
SGX Nifty is suggesting that Indian Markets will start at around 11150 level. Today strategy is to wait for dip at 11000 level and they buy Nifty future with a target 11200 level and stop loss 11050.
