Wall Street seems to be in a recovery mode from yesterday’s losses. The Dow Jones Industrial Average Index is already up by 333 points. S&P 500 looks quite steady and aggressive at 2969.6.
Yesterday the Dow crashed more than 300 points by the end of the trading session. Things are looking great and optimistic from the investor’s point of view.
Technical indicators point to a ‘buy’ signal
Dow Futures soared on hopes of an economic revival with yet another intervention from the Federal Reserve. The technical indicators for the immediate short term, as well as medium-term, turned strongly bullish.
A strong quarterly earnings report from Lowe’s boosted investor sentiments. The tech-dominated NASDAQ is already up by 1.87%. It seems investors are on a buying spree today.
Stocks in focus today
- General Electric is soaring and is already sitting on a gain of around 7%.
- Caterpillar is up by 3.84% and is trading at $116.43.
- Investment banks JP Morgan and Goldman Sachs gained 3.5% and 3.2%, respectively.
- Coca-Cola is up by 2.85%.
Most of the sectors are looking positive. Another relief stimulus is definitely on the cards. At least that is what analysts are strongly deducting from the Federal Reserve Chairman, Jerome Powell’s speech earlier in the week.
Bitcoin seems to have taken the cue from Wall Street
BTCUSD looks steady at the moment. Today’s high by Bitcoin stands at $9,843.87. The daily timeframe price chart for BTCUSD reveals that the past few days have been in the green for Bitcoin.
Investors seem happy holding their Bitcoin reserves. Perhaps that is why despite the gains of BTCUSD, there has not been any significant sell-off lately.
The attention from celebrities such as Elon Musk, J.K. Rowling, and others have put a strong perception in the minds of investors regarding the Bitcoin holdings.