• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed


    • Home
    • News
19:49 IST

U.S. stocks are set to open higher Tuesday, with investors looking for more fiscal stimulus while solid IBM earnings improved confidence about the ongoing earnings season.

S&P 500 Futures traded 21 points, or 0.7%, higher, Nasdaq Futures up 76 points, or 0.7%. The Dow Futures contract rose 159 points, or 0.6% at the time of writing.

On Monday, the Nasdaq Composite added 2.5% to hit a record high, while the Dow Jones Industrial Average inched higher, boosted by increased hope that one or more vaccine cures for the Covid-19 virus will be readily available by the end of the year.

Earlier Tuesday, European Union leaders finally agreed on a 750 billion euro ($860 billion) coronavirus rescue fund, aimed at boosting the region’s economic recovery, after prolonged negotiations over four days. This puts the focus back on the U.S. policymakers, with Congress set to debate a fresh coronavirus aid package this week, aiming to finalize legislation on help for households and business protections in the coming weeks.

The second-quarter earnings season continues Tuesday, with household names like Texas Instruments and Lockheed Martin are due to report. 

The market is set to get a boost from IBM’s earnings, released late Monday, after the tech giant beat estimates for second-quarter profit, signalling demand for its cloud computing business.

Soft drinks giant Coca-Cola also reported Tuesday, with its earnings falling 33% in the second quarter. The company gave no guidance other than to say it expects the second quarter to be the worst of the year.

The U.S. economic data slate is quiet Tuesday, with the release of the Redbook the only significant factor. The key focus this week will be on the weekly initial jobless claims release on Thursday, given the renewed economic shutdowns in California, Florida and Texas. 

Oil prices gained Tuesday on general optimism, with Brent rising above $44 a barrel for the first time since March 6, when the oil price war between Saudi Arabia and Russia started. 

The American Petroleum Institute’s weekly report on U.S. oil stockpiles is due later in the session. 

On the technical front, the RSI is at 69.44% and suggests that the market can move in an upward direction. The current price is trading below 5days moving average and is trading above 20days and 50days moving averages. The stochastic is forming a downside crossover.

Overall Bias is Positive and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

Trade Suggestion—NASDAQ—SHORT SELL at 11025 Take Profit at 10700 Stop Loss at 11175

Leave a Reply

Your email address will not be published.

Hi Please share contact detail & write any comments below, our team will try to call soon.