Post by Dave on Oct 20, 2020 2:19:51 GMT -8
Good morning. We are green again in pre-market this morning at +$1.27. Let’s see if we can hold on to this into the trading day.
Dow Jones Futures Rise On Stimulus Deal Progress After Stock Market Rally Sell-Off; Apple's Flawed New Buy Point
Dow Jones Futures Rise On Stimulus Deal Progress After Stock Market Rally Sell-Off; Apple's Flawed New Buy Point
Dow Jones futures rose early Tuesday, along with S&P 500 futures and Nasdaq futures, as House Speaker Nancy Pelosi "narrowed differences" in stimulus deal talks with Treasury Secretary Steven Mnuchin. In Monday's session, the stock market rally reversed morning gains to fall sharply as stimulus deal hopes turned to doubts.
The Nasdaq composite fell for a fifth straight session after a strong run since late September, with Monday's loss the biggest yet. However, the recent retreat has allowed leading stocks to work on handles, offering lower buy points. Apple stock and JD.com (JD) completed handles on their cup bases Monday, joining the likes of Shopify (SHOP) and Advanced Micro Devices (AMD) that already forged handles. However, the Apple (AAPL) handle has flaws.
The Nasdaq composite fell for a fifth straight session after a strong run since late September, with Monday's loss the biggest yet. However, the recent retreat has allowed leading stocks to work on handles, offering lower buy points. Apple stock and JD.com (JD) completed handles on their cup bases Monday, joining the likes of Shopify (SHOP) and Advanced Micro Devices (AMD) that already forged handles. However, the Apple (AAPL) handle has flaws.
Stimulus Deal Talks
House Speaker Pelosi and Treasury Secretary Mnuchin will hold further stimulus deal talks on Tuesday. After Monday afternoon talks, Pelosi spokesman Drew Hamill said on Twitter that the two sides "continued to narrow their differences."
Earlier, Pelosi wrote to House Democrats that key differences remained on a final stimulus deal.
On Sunday, Pelosi set a stimulus deal deadline for Tuesday, saying otherwise it'll have to wait until after the Nov. 3 Election Day. But she expressed optimism a deal could be reached. House Democrats favor a $2.2 trillion relief bill, while President Donald Trump says he's willing to go higher than his latest offer of $1.8 trillion. Trump claims he could convince Senate Republicans, who are working on a $500 billion aid bill.
House Speaker Pelosi and Treasury Secretary Mnuchin will hold further stimulus deal talks on Tuesday. After Monday afternoon talks, Pelosi spokesman Drew Hamill said on Twitter that the two sides "continued to narrow their differences."
Earlier, Pelosi wrote to House Democrats that key differences remained on a final stimulus deal.
On Sunday, Pelosi set a stimulus deal deadline for Tuesday, saying otherwise it'll have to wait until after the Nov. 3 Election Day. But she expressed optimism a deal could be reached. House Democrats favor a $2.2 trillion relief bill, while President Donald Trump says he's willing to go higher than his latest offer of $1.8 trillion. Trump claims he could convince Senate Republicans, who are working on a $500 billion aid bill.