Read this before you start trading today!

  • US indices managed to snap a losing streak and finish yesterday’s trading higher. S&P 500 gained 1.22%, Dow Jones jumped 1.29%, Nasdaq added 0.72% and Russell 2000 rallied 1.68%

  • Stocks in Asia are recovering from this week’s sell-off as well. Nikkei trades over 2% higher, S&P/ASX 200 gains 0.6% and Kospi adds 1%

  • DAX futures point to a higher opening of the European session

  • US President Biden told Republicans that he wants to see some progress on bipartisan infrastructure deal by Memorial Day (May 31)

  • US Secretary of State Blinken said that United States will support Australian amid Chinese coercion

  • Fed Bullard said that whether inflation is transitory or not is a judgement call

  • Magnitude 6 earthquake was registered near Fukushima, Japan. However, no tsunami alert was issued

  • Japan imposed a state of emergency in 3 prefectures. Singapore decided on a 1-month lockdown amid jump in virus cases

  • Bitcoin trades near $49,000 handle

  • Precious metals, oil and industrial metals trade lower. Agricultural goods advance

  • EUR is the best performing major currency while CAD, JPY and NZD lag the most

Dow Jones (US30) dropped below upward trendline earlier this week. However, downward move was halted at the 50-session moving average and the lower limit of the Overbalance structure. Index began to recover and climbed back above 34,000 pts.