ONLINE FOREX BROKER
2021-10-08 • Updated
Companies in the consumer discretionary sector produce goods and offer services that are nonessential, such as appliances, cars, and entertainment. Many people lost their jobs during Covid-19 and even if they didn’t lose, they stopped spending as much money as they used to before the coronavirus crisis. Now, people are getting back to their pre-covid habits as the economic situation has been improving thanks to vaccinations. As a result, consumers have started spending more money on nonessential products and thus pushing the stocks of these companies up. Let’s look at these stocks!
Footwear and apparel stocks are grabbing more and more attention from traders. A recent survey of 10,000 US teens showed that Nike is the top spot among their favorite footwear and clothing brands. Adidas has also entered the top three for footwear. Besides, Wedbush, an investment firm based in Los Angeles, gave Nike and Adidas outperform ratings.
Nike has just reversed up from the 200-day moving average of $145.00 and stopped ahead of the 100-day MA at $154.00. Sooner or later, it will break this resistance level. After this breakout, the stock price may jump to the high of September 23 at $160.00. Support levels are the 200-day MA of $145.00 and the psychological mark of $140.00.
Automakers are edging higher especially those that are engaged in the production of electric vehicles. For example, Ford is making great moves these days. Why? It has been active in trying to become a frontrunner in conversion from petrol-driven cars to electric vehicles by the big US automakers. Ford has announced that it will invest over $11 billion to create an EV and battery manufacturing "mega campus" in Tennessee in combo with other battery plants in Kentucky, and also with Korean partner SK Innovation. In addition, Ford reported its sales for September and claimed that its electric-vehicle offerings have attracted more customers than Ford’s overall portfolio.
The stock price of Ford has rocketed above the psychological mark of $15.00! If it continues rallying up and closes above the $15.50 resistance level, it will rocket to $16.00. It looks that Ford is undervalued and soon will exceed its all-time high of $19.00. Support levels are $15.00 and the 100-day MA of $14.00.
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The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
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