Market Update — February 17, 2016

global-market-watch

 

The U.S. stock market closed more than 1.5% up on Wednesday after posting a three-day gain that was helped by some recovery in oil prices and encouraging economic data. We now need to move higher beyond a three-day rally to suggest this is more than a reaction. The markets are clearly shifting. Gold managed to close slightly positive but support is rapidly rising. Our opening number for tomorrow is 1199.50 and a closing beneath that will warn that a retest of key support will unfold. Our opening number in the euro lies at 1.1058 and the market continues to look negative. In the Dow, our opening number for tomorrow will be 16707.90.

Latest Posts

Canada Created its Own Trade Barriers

Stéfane Marion, chief economist of the National Bank of Canada, has urged the Canadian government to reconsider their own trade barriers amid criticism of Donald Trump’s proposed tariffs. The International [...]
Read more

US Population Rapidly Growing

The population of the United States grew by 1% to 340.1 million in 2024, according to the US Census Bureau, marking the largest population increase since 2000. The nation has [...]
Read more

China Eyes Vacant VW Factories

Germany’s failing auto sector may prove to be an integral power play for China, as Chinese OEMs are eyeing soon-to-be vacant Volkswagen (VW) factories. Volkswagen plans to close at least [...]
Read more

Inflation Soars in Russia

Russia’s CPI reached 9.5% this December as government spending has pulled the reigns away from the central bank. Inflation elevated from 8.9% YoY in November to 9.5%, slightly below expectations [...]
Read more