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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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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.

What Happens If You Don’t Pay a Payday Loan Back on Time – Help and Advice

Payday loans can be a lifesaver when you have a sudden emergency and need a cash advance fast, but there can be a serious downside to this type of borrowing if you are not careful about who you borrow money from. The danger comes from excessive penalties that are charged on late payments by some of the less scrupulous payday lenders.Payday loans are quite different to any other type of borrowing. They are a way of accessing extra cash extremely quickly and usually without any kind of credit check. The reason credit checks are not necessary is that payday loans are always for very short periods of time and for relatively small amounts of money. Provided you can demonstrate that you have a job and a bank account, the lender can be pretty sure of getting their money back.The cost of a payday loan is usually a fixed amount, which will vary with the size of the loan. This charge in itself is perhaps not unreasonable for the service provided, but it is only appropriate as a one-off fee over that short time period. If you were to work out what that charge represented as an annual percentage rate (APR), you would see that it then became astronomical, perhaps a hundred times higher than a typical personal loan. This is because that charge is not meant to be applied over a period of time like the interest on a personal loan would be.If you don’t pay a payday loan back on the due date, you are leaving it open for the lender to apply extra interest or penalty charges. It has to be said that this is what happens all too frequently, and this is where many payday lenders really make their money, and is what they hope for and depend on. Once this process starts, the extra charges can very quickly amount to more than the original amount you borrowed. This leads to a cycle that is impossible to break out of, because the debt is for more that you are ever going to have spare in any month.It must be said that there are still plenty of responsible lenders that have fair and reasonable systems, so if you don’t pay a payday loan back when you are meant to, you can extend the period of borrowing without ridiculous charges. The important thing is to check this kind of information before entering into a loan agreement with a company. Many people focus too much on who can give the money the fastest at the expense of who is the fairest lender who will be reasonable if you are unable to stick to your original agreement.If you don’t pay a payday loan back and you do find yourself in a situation where you have mounting debts from extra charges, there are some important things to bear in mind with regard to how you get out of that situation. First and foremost, do not take out any more payday loans. They are strictly for covering exceptional expenditure, which can be paid back the following month. They are never, ever a suitable way to deal with a debt problem or ongoing shortage of cash.As debts mount up extremely quickly with payday loans, you need to seek help quickly. Once you know you have a problem that you cannot see a way out of, do not delay in taking action. A debt management company will be a good place to start and you can apply quickly and easily online. What happens next is that they will contact you to go through your finances and advise you on your best course of action.You can avoid the nightmare of a payday loan debt cycle by choosing your lender carefully in the first place. You should avoid any bad situations if you stick to well established and reputable companies that have a long record of successful business, and lots of satisfied customers who have already used them. It is perfectly possible to find lenders who are both responsible and trustworthy as well as having fast and simple application processes.The best approach is to use payday loan companies that are recommended following research and reviews, to come up with a list of a few that you know to be reputable and well established. You then have a few safe ones to apply to in case any reject your application
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