- US stocks rally after big sell-off
- European Stocks Close Mostly Higher
- Retail stockbrokers limit trading of GameStop (GME.US) stocks
European indexes finished today's session mostly higher after economic sentiment in the EU increased more than expected and consumer prices in Germany rose for the first time in seven months. Earlier, indices fell 2% amid concerns over increasing numbers of new COVID-19 cases and stretched valuations. Also disputes between the EU and AstraZeneca regarding vaccines weighed on market sentiment. On the earnings front, chipmaker STMicroelectronics surprised on the upside while Swatch Group figures disappointed and EasyJet posted a bigger revenue decline. DAX 30 rose 0.3%, CAC 40 added 0.9% while FTSE 100 finished 0.6% lower
US indices jumped about 2% on Thursday, rebounding from yesterday's sharp sell-off that saw the S&P 500 and the Dow Jones suffer their worst drop in three months after brokerage firms Interactive Brokers and Robinhood took steps to restrict transactions in the heavily shorted stocks including GameStop, AMC and Blackberry which met with stiff opposition from individual investors. Meanwhile the US economy expanded an annualized 4% in Q4, in line with forecasts and initial claims fell for the second week to a lower-than-expected 847K.
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Open real account TRY DEMO Download mobile app Download mobile appUS crude futures are trading 0.45% lower around $52.60 per barrel, while Brent contract fell 0.10% below $ 55.76 per barrel. Elsewhere, gold futures dropped 0.18% to $ 1,840.00 / oz, while silver is trading 3.0% higher around $ 26.00 / oz. Bitcoin is testing $32,500 level.
Silver – price bounced off the major support at $25/oz, which coincides with 50 SMA (green line), and managed to break above the resistance at $26.00/oz. However, next resistance at $27.00 proved to be too strong and price pulled back to the aforementioned $26.oo level which now acts as support. As long as the price sits above it, buyers seem to be in advantage. On the other hand, should a bigger downward correction start and price breaks below $25.00 level then the nearest key support to watch lies at the $22.15 handle. Source: xStation5
