Welcome to the final trading week of 2020, a year we can’t see its back fast enough. Stocks are pointing to higher after President Donald Trump She signed a $ 900 billion stimulus billDespite the eleventh hour’s demands for greater relief checks.
With a handful of trading days before the year ends, the Call today He says investors need to prepare for a bumpy start to 2021 if we end the year with stock market records.
It was an “unprecedented year for financial assets”, as stock markets collapsed earlier this year due to the COVID-19 pandemic, followed by an impressive rally as authorities flock to stimulus, notes John Hardy, head of forex strategy at Saxo Bank. .
“If market historians look back to another incredible year – 1999 – when the S&P 500 closed the year at a new all-time high, they will remember that the first few days of 2000 saw a fierce correction. Yes, times were different, and the focus was then. Over the year 2000 and the concentrated bubble at that time, but investors need to be reminded that even during major bull market waves, one can see major setbacks, “Hardy said, in Note to customers published on Monday.
New closing highs don’t seem like a far-fetched idea for Monday’s session. On Thursday, the S&P 500 closed just 0.5% of its record close of 3,722.48 December 17th. And equity futures indicate that the S&P may not open far from this level.
Others discussed Ominous parallels Between this market and 1999. The S&P 500 ended that year up 19%, but down 10% in 2000. This is as the market continues to fall. It’s hard to find these days, With the average year-end price target for the S&P 500 at 4,027.21 among top Wall Street forecasters.
YM00 Equity Futures,
Top. While London markets are closed due to the extended bank holiday European markets
aboveThis was also aided by last week’s post-Brexit trade deal that gives the pound sterling against the US dollar,
Big push. Asian markets Mostly roseAnd bitcoin BTCUSD,
Swinging at $ 26,000, after breaking a record $ 28,000 over the Christmas weekend. But is this suitable for your wallet?
President Trump signed the stimulus bill, but also said that Congress would vote to raise individual stimulus payments to whatever they wanted – $ 2,000 – from the $ 600 agreed upon. House Speaker Nancy Pelosi said She said she would hold another vote on Monday, But Republicans It blocked such an effort last week.
Daddy daddy ,
It raised the stock buyback program From $ 6 billion to $ 10 billion, but the e-commerce giant’s shares tumbled nearly 8% in Hong Kong, still struggling with an antitrust realization by Chinese regulators. Over the weekend, authorities also demanded online financing platform Ant Group, in which Alibaba has a 33% stake. Clean up its business And submit a plan for that, after suspending the offering of its shares last month.
European Union COVID-19 Vaccine Campaign It started over the weekend. American officials are “very seriously” looking at a new strain of the virus in the United Kingdom, Says the government’s chief infectious disease expert, Dr. Anthony Fauci. He also warned about the possibility “Increase the troop increase” after Christmas in the United States
Holiday spending in the United States increased 3% from October 11 to December 24, according to Mastercard Spending Survey. The biggest jump was seen in furniture and home furnishings, while spending on clothing decreased.
The man responsible for the Nashville bombing on Christmas Day is believed to have died in the blast. The investigators say.
With the now approval of a “slightly bigger” and “earlier” stimulus package, Goldman Sachs raised its US growth forecast. A team led by chief economist Jan Hatzius now expects 5% growth in the first quarter of 2021, versus 3% previously, and “significantly higher production levels in all four seasons”.
Expect a big bump in disposable income for the first quarter:
The UK government plans to use Exit lines from the supermarket To fight obesity
Spotted in the Indian Ocean, And it is a group of previously hidden blue whales
Italy plans COVID-19 vaccines in the styled wards Help recipients relax
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