U.S. stock market today's overview

U.S. stock market today's overview

US equity market ended on a higher note on Wednesday recovering yesterday's losses with gain in technology share. Investors are now focused on the timing of an interest rate increase from the Fed. The Fed is gauging the strength of economy with winding up of bond buying program and interest rate increase which might be seen in mid September. With employment data due on Thursday it is expected to support bulls in the market and boost investor confidence in green.

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Daqo New Energy ADS	48.00	16.59
Silver Spring Networks	11.81	12.20
Palo Alto Networks	98.70	10.55
DHT Holdings	06.96	08.92
Imperva	33.75	08.73

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BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Pulse Electronics	02.50	19.35
Anglo Gold Ashanti ADS	12.86	17.01
Autohome ADS	42.67	08.82
500.com ADS	32.94	08.35
Marcus & Millichap	27.17	07.40

USD surged: USD/JPY highest in 6-year

US dollar set a new highest record in six-year's script over Japanese Yen (JPY) on Wednesday, with Australian dollar (AUD) recording another session bulked with a big box of losses over rise in US treasury yields.

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Forex traders are summing over the risk of trading in US currency trading coming out of US interest rate rise. Investors are reallocating their investments to USDs following Federal Reserve's report in the current weak citing higher determined recovery hiking the price of currency hitting new targets everyday.

With statements and publications from Fed, US treasury yields climbed up close to two year's highest heading to break three-year's highest record of 0.590 percent. High security long-term yielding US treasury rose more than 2.50 percent recovering from its recent fall at 2.30 percent rate. In Asian markets, it traded at 2.505 on Wednesday in early session.

USD backed up with positive cues from US treasury yields branded its value higher against most of the major currencies in the market. USD/JPY expanded to 106.56 breaking its six-year's highest record.

"Trader who did not hold their dollar stock lost out on big gains which will continue as Japanese yields fall further in near future," a forex researcher quoted from a renowned company in Tokyo.

Asian currencies fell against dollars and so did Australian dollar ratio with US dollar. AUD/USD lowered 0.4 percent down trading at 0.9162 in the market range today. Though, the ratio is posting a slim drop at 0.4 percent, in the overview of forex trade market AUD/USD gained momentum from its previous close at 0.9154.

Among domestic cues, Australian dollar commenced a climbing trend but paused on highest record gains in US. Australian forex expert said, "The trading level of AUD/USD broke its normal closing at 0.9175 as per estimates."

Similarly, European markets reported lower over gains in USD. EUR/USD plunged 14 months gains coming back to 1.2859 losing 0.1 percent from its last closing at 1.2925.

UK markets fought back US currency recovering from its disappointing beat down from the news of Scotland's independence. GBP/USD moved a notch up at 0.1 percent coming to 1.6115 coming back from its lifetime low at 1.6060 recorded yesterday.

US Stock pick of the day : 3M

Stock pick of the day

Recommendation   :   Buy above $146.50

Target                    :    $148.50

STOCK SUMMARY:-

3M Co is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $146.50 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 $148.50.

  

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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 $146.50 is expected, which would trigger bullish sentiment in the stock to test the levels of $148.50.

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.

US stock market : top gainers and losers

Bulls and Bears of NYSE

 

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Pulse Electronics	03.10	53.47
Annie's Inc	46.10	37.57
GFI Group	05.69	13.12
Evogene	13.48	08.27
Castlight Health CI B	13.80	08.24

 

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BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
USEC	03.36	18.05
MaxLinear	07.26	17.22
Leidos Holdings	33.21	12.28
Bitauto Holdings ADS	82.44	11.42
Paragon Offshore	07.35	10.58

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