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“Business opportunities are like buses, there’s always another one coming.” – Richard Branson
After a long holiday weekend, US equity markets are open for just four days again this week as Friday is New Years Day. This is the only time of year that you get two three-day weekends in a row for the market, and it doesn’t even happen every year. In fact, with New Years Day falling on a Saturday next year, there will be no market holiday in observance of New Years Day either the Friday before or the Monday after.
Markets are kicking off the week on a positive note as President Trump finally signed the COVID relief bill. The only economic data point on the calendar is the Dallas Fed at 10:30 eastern. The rest of the week looks to be quiet- at least in terms of scheduled data.
Be sure to check out today’s Morning Lineup for updates on the latest market news and events, an update on the latest national and international COVID trends, and much more.
After a period of consolidation last week, global equities are looking to end the last four trading days of the year on a positive note. The snapshot below from our Trend Analyzer tool shows international regional ETFs and summarizes their performance as well as where they currently stand relative to their trading ranges. Of the 18 ETFs shown, the only one that finished higher last week was the European Hedged Equity ETF (HEDJ). ETFs which saw the largest pullbacks last week were Latin America (ILF), Emerging Markets (VWO & EEM), and Asia ex-Japan (AAXJ). Despite the losses, though, every ETF shown finished the week above its 50-day moving average, and most were overbought as well.