Santa preparing to take back the reins of the market! | MarketTalk: What’s up today? | Swissquote

Santa preparing to take back the reins of the market! | MarketTalk: What’s up today? | Swissquote

The US markets kicked off the week on a negative note. All three major US indices slumped yesterday, and both the S&P500 and Nasdaq fell close to their 100-DMA and the lower end of their medium-term ascending channel base. The major responsible for the bad mood was not necessarily the omicron worries but rather seeing Biden’s $2 trillion Build Back Better project rejected by Manchin. But US index futures recorded a strong rebound in the Asian session, with Nasdaq futures up by as much as 1%. With the rising volatility, we could see Santa taking back the reins from Manchin for the next couple of sessions. Low trading volumes could help exacerbate any rebound. Elsewhere, Turkey went from tears to laughter within a single trading session yesterday. I discuss in detail what I liked and what I didn’t in the new economic plan, and whether the gains in the lira could last, or is it just a flash in a pan… Watch the full episode to find out more!

Santa preparing to take back the reins of the market! | MarketTalk: What’s up today? | Swissquote

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