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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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Want to Grow Your E-Commerce Business?

A look at e-commerce platforms – Part IIHaving a product that is in demand in today’s economy is great, but being able to market and turn the lookers into buyers is a big task. Here we will cover some of the possibilities of taking a product from the shelves and turning it into a global commodity. There are many ways to sell your product online and there are just as many opinions on how to be successful, here are some details keep in mind from inside an e-commerce platform provider.The first step of building any business not just an e-commerce business is to ensure you save as much of your time, energy and focus as possible for building the best products or services and then marketing them to the right audience. Then the next step is to find a provider to take care of building, developing and maintaining a sound e-commerce platform that is flexible and powerful enough to meet your needs. In this part of the building process the wise step to take is to take time to select the provider that is in the business for the long haul and not a flash in the pan operator.The following is a brief overview of a few of the simpler features or services from e-commerce platform providers that will greatly help support you in the building process of your e-commerce business:Straight forward Buy Now Buttons: This feature provides vendors with the buy now button and technology, sparing the vendors of excessive programming. This is an easy to integrate feature that allows the customer to quickly select the product and then they are directed straight to the checkout/payment page. The Buy Now button will greatly improve the buyer’s online experience and reduces loss of attention due to a lengthy purchase process.Multiple Currencies and Multilingual Support: By providing each page of the website in multiple languages to ensure that the vast majority of the public can get a complete and clear idea about the services that it provides. As part of the service vendors have the opportunity to receive a fully customized payment page, and in as many languages and major world currencies as possible, this is a feature that can prove beneficial to any business. Next by employing specialists in the e-commerce industry that possess unique linguistic talents your business venture can offer customer support in many of the most demanding languages.One Click Up-Sale: This feature allows vendors to substantially increase their sales revenues by presenting a unique opportunity to the shopper. This feature allows the vendor to up-grade products and to promote other products or services and to increase sales.Cross-Selling: By adding the cross-sell feature the vendor can bundle products that will be of benefit and cost savings to the end-user, therefore increasing sales and the bottom line. This technique allows the vendor to increase the sales of their products and importantly, vendors that sell more services to a client are harder for a competitor to displace or sometimes even compete with.Coupons: By using the promotional coupons the vendor can increase their up-selling or cross-selling of merchandise simply by offering additional products or services at a reduced rate within a certain time frame.Subscribe Now Button: A good subscriptions feature offers more options to control and customize subscriptions, more detailed performance data on subscription campaigns, and increased conversion success rates. The enhancements are designed to reduce the costs of extending and retaining subscriber relationships as well as provide subscribers even more custom and localized experiences.With these few tools, an online vendor can grow and effectively start selling their e-commerce business to the world whether the targeted consumer base is large or small. To obtain these and many more useful features, take time to do the research to find the most compatible service provider to the business that you want to grow. The e-commerce platforms vary so the research is just as important as the features included in the service.
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