Tag Archives: S&P 500

S&P 500: Santa Rally Still Elusive As Stocks, Oil Tumble

Fawad Razaqzada

After a positive start, European stocks and US index futures have given up their earlier gains, potentially setting the stage for another ugly day on Wall Street. Unsurprisingly, crude oil is also getting smashed once again after last week’s renewed selling that was triggered first and foremost by the OPEC removing its production quota and then a couple of bearish oil reports from the cartel itself and also the International Energy Agency, with the latter now expecting the excess supply surplus to be eliminated not before the end of 2016. more…

S&P 500 Surging Towards Major Resistance

Fawad Razaqzada

US stocks were trading sharply higher Thursday, tracking the massive gains seen across the European markets after the ECB President Mario Draghi delivered a surprisingly dovish message at the much-anticipated press conference earlier today. Without going too much into any technical details, the long and short of it is that the ECB’s bond buying stimulus package could be beefed up as early as the Bank’s December meeting, while interest rates could also be cut to negative. Unsurprisingly, the euro tanked, while the higher-yielding currencies and stocks have rallied across the board. more…