US Open: partial profit-taking at the start of the cash session ✂️

• The dollar and U.S. bond yields continue to rise

• Indicies open slightly lower

• The US500 remains above the 6000-point mark

The cash session in the U.S. market begins with some minor profit-taking after recent dynamic gains. However, key levels for the indexes are being maintained, and shortly afterward, the market even shows slight gains. The recent stock market increase occurs despite pressure from a dollar apprecation. Today, the USD has gained another 0.45% to 105.8000 points, the highest level since April 2024, even as the Fed has started a rate-cutting cycle. There is currently no significant concern over the forex market, as the so-called Trump Trade continues following last week’s elections. However, in the longer term, a strong dollar may gradually put pressure on the stock market.

US500

The index's current quotes are around 0%, with an upward trend as initial losses have been recovered. In the early part of the day, it lost 0.10%. From a technical analysis perspective, the key support level is the 6000-point threshold.

Source: xStation 5

Stock News

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