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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 | FXMAG.COM
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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!


Swissquote Bank

Swissquote Bank

– the Swiss leader in online banking
As a leading provider of online financial services, Swissquote offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. The user-friendly platform also delivers forex, robo-advisory, leasing and mortgage solutions, as well as various online trading services. In addition to a low-cost service for private clients, Swissquote also offers specialized services for independent asset managers and corporate clients. Swissquote Bank AG is subject to the oversight of the Swiss Financial Market Supervisory Authority (FINMA), holds a banking license from the same authority, and is a member of the Swiss Bankers Association. The parent company, Swissquote Group Holding AG, is listed on SIX Swiss Exchange (symbol:SQN).


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