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MTS Futures News_PM_20180919

19 Sep 2018

• S&P500 Technical Analysis: Bulls in great shape nearing the all-time-high - 2,938.00 can be next on the radar

Bulls came back and keep extending the longest run ever in US equities

The S&P500 Index is trading above its 50, 100 and 200-period simple moving averages which are all rising and widening while the RSI, MACD and Stochastics indicators keep being constructive.

The next objective for bulls will be to retake the all-time-high and to travel towards 2,938.00 and 2,950.00

• European markets opened higher on Wednesday with investors appearing to brush off escalating trade tensions between the U.S. and China.

The Stoxx 600 index opened 0.17 percent higher with most sectors in positive territory.

• Asian stocks rose across the board on Wednesday as expectations that Beijing would implement stimulus to soften the economic blow from the Sino-U.S. trade war helped Chinese shares rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.95 percent. Global equities have been on a steady footing this week as investors looked past the latest escalation in the U.S.-China trade feud, seen by some market participants as less severe than expected.

• Japan’s Nikkei extended its gains to near eight-month highs on Wednesday as investors took heart from a strong performance in Wall Street despite lingering trade war concerns, with financial stocks rallying after U.S. yields jumped.

The Nikkei share average ended 1.1 percent higher at 23,672.52, the best closing level since late January.

• China stocks rebounded strongly for the second straight day on Wednesday as investors piled into property and consumer stocks, betting Beijing will intensify stimulus measures to cushion the impact of an escalation in the Sino-U.S. trade war.

The blue-chip CSI300 index rose 1.3 percent to 3,312.48, while the Shanghai Composite Index gained 1.1 percent to 2,730.85.

Reference: Reuters, CNBC

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