Morning wrap (19.11.2021)

9:59 am 19 November 2021

  • S&P 500 and Nasdaq booked record closes yesterday, gaining 0.38% and 0.45% respectively. Dow Jones dropped 0.17% while Russell 2000 moved 0.56% lower

  • Stocks in Asia traded higher. Nikkei gained 0.5%, S&P/ASX 200 moved 0.2% higher and Kospi added 0.8%. Indices from China gained

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

  • White House confirmed that it has been discussing coordinated oil reserve release with China

  • Goldman Sachs says that any release of strategic reserves is already priced in by the markets

  • Democrats want to vote on a $1.9 trillion "Build Back Better" stimulus plan today

  • Fed's Bostic said that it would be appropriate to normalize monetary policy by summer 2022

  • Japanese CPI inflation decelerated from 0.2% YoY in September to 0.1% YoY in October (exp. 0.5% YoY)

  • South Korean PPI inflation accelerated from 7.6% YoY in September to 8.9% YoY in October, the highest pace since October 2008

  • PayPal launched a new app that allows users not only to trade cryptocurrencies but also to pay with them

  • Bitcoin tested $55,500 area during the Asian session but has managed to recover above $56,000 since

  • Risk-on moods can be spotted on the commodities markets with industrial metals and oil booking strong gains. Precious metals also gain

  • AUD and CAD are the best performing majors while CHF and EUR lag the most

While S&P 500 and Nasdaq managed to close at record levels yesterday, Russell 2000 (US2000) lags behind. However, recent pullback on the index have been halted near the early-year high at 2,368 pts and an attempt to launch a recovery move can be spotted today. Source: xStation5

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