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US Markets in green on Friday; Dow 30 up over 345 points, Nasdaq Composite, S&P 500 up nearly 1%

US Markets were trading in the green on Friday with Dow 30 trading at 30,678.80, up by 1.14%. While S&P 500 was trading at 3,701.66, up by 0.98% and Nasdaq Composite 10,690.60 was also up by 0.71 per cent

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US Markets in green on Friday; Dow 30 up over 345 points, Nasdaq Composite, S&P 500 up nearly 1%
Earlier today, Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. Source: Reuters
US Markets were trading in the green on Friday with Dow 30 trading at 30,678.80, up by 345.25 points or1.14 per cent. While S&P 500 was trading at 3,701.66, up by 35.88 points or 0.98 per cent and Nasdaq Composite 10,690.60 was also up 75.75 points or 0.71 per cent. A Reuters report said that today’s strength was on the back of a report which said the Federal Reserve will likely debate on signaling plans for a smaller interest rate hike in December, reversing declines set off by social media firms after Snap Inc’s ad warning.

Source: Comex

Nasdaq Top Gainers and Losers

Source: Nasdaq

Earlier today, Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. The BSE Sensex ended at 59,307.15, up by 104.25 points or 0.18 per cent from the Thursday closing level. Meanwhile, the Nifty50 index closed at 17,590.00, higher by 26.05 points or 0.15 per cent. In the 30-share Sensex, 13 stocks gained while the remaining 17 ended on the losing side. In the 50-stock Nifty50, 21 stocks advanced while 29 declined.

S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

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Entry Level Finance – Why Finding Your New Job Will Be Easy

Entry level finance jobs can be easy to come by if you know where and how to look. You are probably fresh out of college, and you are seeking a job in an entry level finance position. A common question many fresh graduates have is “How long would it take you to find a job, considering there are so many other people out there looking for the same job that I am looking for?”Nowadays, it isn’t as difficult to seek a job as it used to be, despite what the economy is going through. We have the Internet, and there are so many sites available on there where employers advertise to look for people like you. There are many websites that can assist you in your search.Unfortunately, because the Internet has gotten so popular, a majority of the people you are competing with are most likely going to do the same thing as you. The first thing they are probably going to do is get on
the Internet and visit those website where they know they can find some job openings in the entry level finance field. So far, you’re doing everything your competition is doing. You’ll probably look for job openings, email the employers, and wait for the employers to contact you back to possibly set up an interview. Pretty basic stuff.Well, the good news is, not a lot of your competitors will go above and beyond like you will. If you are really serious about getting yourself a well paying entry level finance job, you will go above and beyond in order to beat all your other competitors.First, you will seek for the job openings in finance field. You are going to email the employer your resume and cover letter, then, you will not just wait for the company to contact you. You are going to have to call them and let them get to know about you, that way, you are already in their minds. If possible, you can even visit their office and introduce yourself. This process can take a little bit of time and effort, especially if the company you are applying for is a very busy company and has a lot going on, but you are going to have to be patient and understand that this is a part of getting yourself ahead in the game. Remember, employers like to hire aggressive and people skilled employees like you and they are not going to know what’s so different about you and your skill set just by sending them an email.Once you get yourself an interview, it’s time for you to shine even more! Be professional, yet friendly. Be aggressive, yet cool. Employers don’t like to hire robots. They like to hire people who have great personalities and know how to take initiative and can make good decisions. Let them know that you are very interested in an entry level finance position and sell them the skill set what you bring to the table.With this knowledge, not only will you advance in looking for a entry level finance job, but you will also build a lot more confidence during your interview, knowing that you have reached that far in the game. Good luck in finding your position in entry level finance.

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