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Germanys DAX index rose by about 0.7%, hitting a record high. A German government spokesman said earlier that German Chancellor Merz and Trump agreed on the need to quickly resolve the trade dispute during a phone call.Germanys DAX30 index opened up 131.20 points, or 0.56%, at 23480.50 points on May 9 (Friday); Britains FTSE 100 index opened up 39.42 points, or 0.46%, at 8571.03 points on May 9 (Friday); Frances CAC40 index opened up 38.04 points, or 0.49%, at 7732.48 points on May 9 (Friday); Europes STOXX 50 index opened up 14.01 points, or 0.26%, at 5302.95 points on May 9 (Friday); Spains IBEX35 index opened up 26.36 points, or 0.20%, at 13504.06 points on May 9 (Friday); Italys FTSE MIB index opened up 242.70 points, or 0.62%, at 39217.00 points on May 9 (Friday).Bank of America: U.S. stocks saw $9.3 billion in outflows in the week ending Wednesday, and the four-week cumulative outflow was the largest since May 2023.Switzerlands consumer confidence index in April was -43, expected to be -33, and the previous value was -34.8.May 9th, the U.S.-UK trade deal initially prompted optimism that deals with other countries might follow. However, analysts say the initial positive impact on the market is fading because the agreement is limited in scope and 10% tariffs remain in place in most cases. "The agreement (or rather its lack of an agreement) is not very significant and does not necessarily give the impression that more substantial results are expected in negotiations with other countries," said Volkmar Baur, an analyst at Commerzbank, in a report.

E-mini NASDAQ-100 Index In Position to Challenge Next Main Top at 12973.75

Alice Wang

Jul 22, 2022 15:36



Late in the session on Thursday, September E-mini NASDAQ-100 Index futures are trading higher, putting the index in a position to notch its third consecutive gain and the fifth higher session out of six. As initially fluctuating between gains and losses, the technology-focused index gained momentum after Tesla jumped 9.78 percent after its quarterly reports.


September E-mini NASDAQ-100 Index futures are now trading at 12591.25, up 126.00 or 1.01 percent, at 18:45 GMT. The Invesco QQQ Trust ETF (QQQ) is now trading at $307.43, an increase of $4.40 or 1.45%.


Tesla may have been the session's top gainer, but shares of NetEase Inc., ASML Holding NV, and CSX Corp. all increased significantly during that time, rising 6.16 percent, 5.41 percent, and 4.24 percent, respectively.


The weekly initial unemployment claims reached a new eight-month high in the United States, while a measure of manufacturing activity in the mid-Atlantic area for July fell to its lowest level in just over two years.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The uptrend will be confirmed if a transaction is made through the intraday high of 12621.00, with the next major peak objective being 12973.75. The primary trend will switch to down if a transaction is made through 11479.25.


The midpoint is between 14327.50 and 11068.50. Its retracement range, from 12698.00 to 13082.50, is the main region to aim for on the upside.


The immediate range is between 12973.75 and 11068.50. The index is now trading between 12246.00 to 12021.00, which is support, on the high side of its retracement zone.

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