Wall Street ends mixed, trades sideways
US indices closed mixed yesterday, giving back some early gains, as uncertainties surrounding trade wars and global growth remain. ECB downgrades growth forecasts, while Theresa May continues to work on Brexit.
US30USD Weekly Chart
The US30 index rallied for a second day yesterday and has started positively today
The 100-week moving average at 23,479 remains untested since November 2016
Growth in retail sales is expected to slow to +0.2% m/m in November, sharply lower than the +0.8% seen in October. The December Markit manufacturing PMI is expected to tick higher to 55.4 from 55.3
DE30EUR Daily Chart
The Germany30 index snapped a three-day rising streak yesterday, closing marginally in the red as ECB’s Draghi announced a downgrade to EU growth prospects
The 55-day moving average is at 11,430. This average has capped prices on a closing basis since August 29
Euro-zone December Markit manufacturing PMI is expected to edge higher to 52.0 from 51.8 the previous month. A bigger jump could help to stall the index’s slide.
UK100GBP Daily Chart
UK shares fell for the first time in four days yesterday, closing almost flat on the day, as PM May was in Brussels seeking assurances at the EU Brexit summit regarding the Irish border
The 55-day moving average at 7,066 continues to cap the index, as it has done on a closing basis since August 10
UK press is reporting that certain senior Conservative lawmakers are attempting to persuade PM May to resign next Spring.
