Mon, 11 January 2021 | Written By: Neil Wilson
Neil is chief market analyst for Markets.com and also writes for the Investors Chronicle as ‘The Trader’, with the daily market outlook published online each morning.
Equities pause after strong week, Bitcoin tumbles, Wall Street earnings in focus
Bitcoin plunges, gold weaker testing 200-day EMA
Trump impeachment seems unlikely
European markets were in a holding pattern early on Monday as investors parsed signals of recovery, vaccine rollouts, surging caseloads and tougher lockdowns. The FTSE 100 eased back by around half of a percent, trading around the 6,840 level whilst the Dax traded under 14k. It was a strong run-up last week so we are likely just seeing a little pause for breath.
Fri, 8 January 2021 | Written By: Neil Wilson
Neil is chief market analyst for Markets.com and also writes for the Investors Chronicle as ‘The Trader’, with the daily market outlook published online each morning.
Earnings Season Preview
EPS estimates seen down -10%
BofA, Citi calling top on frothy market
The S&P 500 has risen over 1% this week to make a fresh record high, closing above 3,800 for the first time in its history. Ebullience is a factor of the hope in vaccines leading to a return to normal, corporate earnings improving sharply in 2021, and a broadly expansionary fiscal and monetary environment offering succour to equity valuations. So we come into earnings season with markets in overall good shape, arguably looking a bit toppy and expensive as multiples are stretched and vaccines are yet to deliver the bounce back hoped for. Payroll numbers on Friday (-140k) highlight the problem facing the US economy in terms of l