- Indices are slightly up at the start of the session
- The dollar is also gaining
- Bond yields are declining
The final trading session of the year begins with moderate gains. Volatility today is expected to remain limited, as many markets in other parts of the world are closed or operating on shortened schedules. Year-end liquidity is also lower. Nonetheless, there is an increased appetite for risk in the U.S. stock market, further evidenced by a strong rebound in the cryptocurrency market. Additionally, gains are occurring in an environment of a strengthening dollar. At the time of writing, the US100 and US500 are up 0.25%, while the US2000 has risen by 0.50%.
US100
The US100 technology index is up 0.10% to 21,400 points. Today's rebound marks the third consecutive successful recovery after testing the support zone below 21,200 points. This zone was tested yesterday as well as on December 18 and 20 following the FOMC decision and Jerome Powell's hawkish remarks. It currently represents the most crucial short-term support level for bulls.
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Company News
Sangamo Therapeutics (SGMO.US) is down over 54% following the announcement that Pfizer has terminated its collaboration and licensing agreement with the company, which aimed to develop a new gene therapy for hemophilia A. Pfizer's decision has come as a surprise to both the market and analysts.
Source: xStation 5
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