U.S. Stock Market Today's Overview

U.S. stock market overview

US stock market ended on a lower note on Tuesday with pressure coming from the financial sector.

The top weighted technology sector showed a choppy session before ending on its low.

Among the top performers were Health care and consumer staples, with telecoms and utility sector lagging behind.

There is no major data due on Wednesday and the market is expected to trade on a mixed note with low volume.

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Stock pick of the day : FACEBOOK INC

Stock pick of the day

Recommendation : Buy above $78.25

Target                     :  $80.50

STOCK SUMMARY:-

Facebook Inc is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $78.25 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $80.50.

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CHART FORMATION

Stock is in bullish trend for near term and price is sustaining above the trend line and with good consolidation on daily intraday chart. Near term breach of resistance level of $78.25 is expected, which would trigger bullish sentiment in the stock to test the levels of $80.50.

INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.

Bulls and bears of the US Stock market

Top gainers and losers of the US stock market

 

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Cheetah Mobile ADS	30.34	12.79
GFI group	05.03	10.55
Channel Advisor	18.12	09.88
Rene Sola ADS	03.35	09.12
Essent Group	22.63	08.96

 

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BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Halcon Resources	05.24	07.58
Callon Petroleum	09.30	07.55
Lentuo International	02.51	07.04
Coupons.com	15.22	06.80
Imation	03.08	06.67

US stock market today's overview

 

US Stock Market Today's Overview

US equity market ended on a mixed note on Monday with majority of the shares trading in red. 

Energy sector closed flat with consumer discretionary and Automobile sector ending negative. 

On the upside Technological shares outperformed and posted gains in the market. 

With no major data due on Tuesday market is expected to react on Jolts Job opening data but with less volume to trade in its sophisticated range.

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GBP/USD lowers despite low US job data

GBP and USD

United Kingdom and United States exchange rates in Forex markets moved up as sterling shone in GBP/USD pair, as USD slid with disappointing US job report published over the weekend.

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The gain in forex market fell back as political concerns in Scotland plunged the gain to record 10-months lowest rate of GBP/USD of 1.6165 falling over a percent in early trade on Monday. The fall kept the outlook of the pair bearish in the market as GBP/USD recorded last lowest on 26 November 2013 at 1.6222 dipping 0.7 percent.

Great British Pound shed its gains after vote for independence of Scotland resulted in favor of the move. Sterling is likely face more in the coming 10 days till September 18 when final decision on Scottish independence is framing out.

Against the most popular forex Asian currency, sterling dropped to its three-months lowest record reporting at 169.68 yen (GBP/JPY), after which it settled between the levels hitting highest at 170.41 yen.

On technical charts, sterling is trading in between $1.6000 and $1.6100 marked as long-term support levels according to 100-week and 200-week moving averages against USD.

European benchmark currency, Euro is trading under pressure after ECB's decision of bringing down interest rates after last Thursday's meeting. EUR/USD tripped down to 1.2950 nearing its 14-months' lowest record at 1.2920.

Australian dollar worked its way up in early trade as its stabilized markets cued up with falling USD on the back of unexpected lowered US job data. AUS/USD climbed 0.1 percent coming at 0.9369, with a stronger result of 0.9403 posted on last Friday's closing breaking its previous record set in July.

NEWS to watch for in the coming week

Tuesday, September 9
The U.K. will publish data on industrial and manufacturing production along with a report accumulated on the data of trade balances. Another highlight of the day is coming from BoE Governor Mark Carney who will share his views in Manchester, USA.

Wednesday, September 10
BoE Governor Mark Carney with other monetary policy committee members will check up the reports of inflation and present the report highlighting economic outlook to the Parliament’s Treasury committee members.

Thursday, September 11
The U.S. will post its first weekly report commenting on its initial jobless claims.

Friday, September 12
U.S. will publish data on retail sales, accumulated by the government on the basis of measurement of consumer spending, which forms majority of overall economic activity. Another important report coming into picture is primary reports presenting consumer buying sentiments.

US Stock pick of the day : Alcoa Inc

 

US Stock pick of the day

Recommendation   : Buy above $17.50
 

Target                    : $19.50


STOCK SUMMARY:-

Alcoa Inc is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $17.50 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $19.50.

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CHART FORMATION

Stock is in bullish trend for near term and price is sustaining above the trend line and with good consolidation on daily intraday chart. Near term breach of resistance level of $17.50 is expected, which would trigger bullish sentiment in the stock to test the levels of $19.50.

INDICATORS:-

RSI is trading with positive bias and is sustaining above the level of 50.
In MACD signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.

Top Gainers and losers of NYSE

Bulls and Bears of NYSE

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Methode Electronics	05.46	15.94
Christopher & Banks	10.65	11.05
PVH Corp	128.38	09.60
Yingli Green Energy Holding ADS	03.66	06.40
Ply Genn Holdings	12.42	06.06

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BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Ciena	18.51	09.53
Emerge Energy Services	124.30	09.45
McEwen Mining	02.44	08.96
Zendesk	24.89	07.75
Argan	37.47	07.41