Morning Scoop
Happy Friday friends! Hope you’re feeling better than the markets, we’re opening lower this morning and we’re still around levels that can either go higher or lower from here todays closing could be important
Markets
📰 News
DB Deutsche Bank’s shares fell over 14% due to a surge in its credit default swaps, which suggests that more borrowers may default on their loans. This increased risk of default led investors to sell off their shares, causing the stock price to drop. A credit default swap is a financial instrument used to protect against the risk of default by a borrower. When the price of a company’s CDS surges, it indicates a higher likelihood of default, which can cause investors to become concerned about the company’s financial health and sell their shares.
📈📉 S&P 500 Futures Update
Take a look at the chart, let’s keep it simple: if the price is above the top horizontal white line, we can expect further upward momentum. However, if the price is below the current level, there’s a likelihood that we may see a downward trend from here.
🔮 Forecast
Currently, the market momentum seems low and we may be poised for a downward trend. However, it’s important to keep in mind that the market often surprises us, and what we expect may not be what we get. Instead of trying to predict the market’s direction, it’s crucial to follow its movements and react accordingly.
Wrap-up
I have a plan in place and I’m going to stick to it. Right now, I’m keeping an eye on NFLX, APPL, SHOP, and MSFT, but I’m not planning to make any immediate moves. Instead, I’m observing how the prices react around the levels I’m looking at before making any decisions.
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