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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Wall St. set for record open

14:01 9 January 2020

Summary:

  • New ATHs for US500 and US100

  • US30 testing prior peak

  • Initial jobless claims beat forecasts

 

Stock markets are back in a bullish mood as the de-escalation of tensions between the US and Iran means that despite some volatility in the past week, indices are once more pushing higher. Trump’s press conference yesterday was seen as pivotal and the decision to not adopt a more aggressive stance suggests that despite the hyperbole in recent days, the situation remains under control. Both the US500 and US100 have surged to their highest ever level and they are also set to have their highest ever open when the cash session starts at the bottom of the hour.

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The US100 printed a large bullish hammer yesterday and the market remains in a bullish mood, chalking up a new all-time high ahead of the cash open. The RSI is in between 70 and 80 to suggest moderately overbought conditions and there’s also some negative divergence seen in this indicator. However, in the absence of any reversal signals the path of least resistance remains higher. Source: xStation

The US30 is lagging behind the other two large-cap US benchmarks but is now probing its previous record peak around 28890. A clean break above here could see this market join in the breakout rally seen in the US500 and US100. Source: xStation 

 
  • On the economic calendar today there’s not too much of importance with the weekly jobless claims the biggest release. A print of 214k was better than the 220k estimate while the prior was revised down by 1k to now stand at 222k for good measure. Similar to yesterday’s ADP this is a solid reading and raises expectations ahead of tomorrow’s NFP report. 

 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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