NASDAQ 100, NIKKEI 225, ASX 200 INDEX VIEWS:
- Dow Jones, S&P 500 and Nasdaq 100 indices closed at -0.54%, -0.58% and -0.59% respectively
- Fed chairman Jerome Powell will address the Jackson Hole Symposium on Friday at 10 a.m.
- The Asia-Pacific markets are open lower after negative management
Jackson Hole, Fed Tapering, USD, Unemployment Claims, Asia Pacific Openis:
Wall Street shares pulled back to record levels on Thursday as investors listened to the shameless comments of St. Louis Fed President James Bullard above Jackson Hole Symposium. Bullard said in a TV show that he wants to see the central bank start reducing the purchase of assets to curb inflation, and maybe it will have to become aggressive if the downgrade does not include inflation.
Cyclically oriented sectors such as energy (-1.51%), at the discretion of the consumer (-0.73%) and materials (-0.68%) fell, pulling the S&P 500 index from all-time highs. PayPal(-1.47%),Tesla(-1.41%) and Facebook(-1.09%) were among the worst performing technology companies overnight.
Investors are watching Speech by Jerome Powell At the Jackson Hole Symposium at 10 a.m. ET later. His speech is thoroughly checked for clues to Fedi’s narrowing plan. Some market participants believe that a reduction program can be carried out a slower than expected thus, it may not significantly reduce the price of the assets.
Asia-Pacific markets may continue to lag behind their peers due to viral problems and the expansion of the private sector in mainland China. US stocks listed in the US fell overnight, including Tencent (-1.53%), Alibaba (-2.28%) and NMe (-1.77%).
Nasdaq 100 stock top 10 returns 26-08-2021
Source: Bloomberg, DailyFX
In the meantime, once a week initial USA unemployed claims the data met expectations. About 353,000 unemployment benefits were claimed last week, compared to an estimated 350,000. Last week’s figure changed slightly from 349,000 to 349,000. Unemployment claims have declined in recent months, highlighting the resilience of the labor market to the virus.
US Weekly Unemployment Claims
Source: Bloomberg, DailyFX
Asia-Pacific markets watch it open lower on Thursday. Futures in Japan, Mainland China, Australia, Hong Kong, South Korea, Taiwan, Singapore, India and Thailand is everything in Red, while those who are inside Malaysia is green.
Nasdaq 100 Index Technical Analysis
The Nasdaq 100 index reached a key resistance level of 15,300 (127.2% Fibonacci extension) and has since withdrawn. Exceeding this level could open the door for further benefit if you look at 15,950. Withdrawing from here could bring prices to the 20-day SMA route for immediate support. The decline in the MACD indicator suggests that the downward momentum may increase.
Nasdaq 100 Index – Everyday Diagram
Nikkei 225 Technical analysis of the index:
The Nikkei 225 index will remain in the declining channel formed since February. The floor and ceiling of the duct can be considered as immediate support and resistance levels, respectively. The general trend is still bear-biased, as suggested by the downward-sloping SMA lines. The MACD indicator is moving below the neutral line, which suggests that the rate of increase may be weak.
Index Nikkei 225 – Everyday Diagram
ASX 200 Technical analysis of the index:
The ASX 200 index retreated sharply to test the immediate support level of 7500 – the previous hurdle. The overall trend remains bullish, as the successive higher and lower rises of recent months suggest. The MACD indicator formed tough intersections after hitting the trend line obstacle, suggesting that selling pressure may dominate.
Index ASX 200 – Daily schedule
– Wrote DailyFX.com strategist Margaret Yang
Use the Comments or section below to contact Margaret @margaretyjy Twitter