Skip to content Skip to footer

U.S. Indices record new highs, as Stimulus deal nears – 17th December

Both the S&P 500 and NASDAQ recorded all-time highs on Thursday as markets responded to the news that a Stimulus deal could be reached by the weekend.

News broke today that negotiations surrounding a $900 billion COVID-19 aid bill were at the final stages, but talks could spill into the weekend as last minute details are still to be agreed.

Reports suggest that congress must approve the aid bill or pass a stopgap by midnight Friday, which currently seems more likely. If unable, many fear  Federal agencies will be forced into shutting down many of their operations due to a lack of funding.

As of writing both the S&P 500 and Dow Jones were up close to 0.5% , with the NASDAQ up 0.67%

Initial Jobless Claims at 3-month high

Data released today showed that Initial Jobless Claims in the United States had risen once again, this time to the highest levels in 3-months.

The number of Americans seeking unemployment benefits increased to 885,000 for the week which ended December 12th. Claims were 85,000 higher than the expected figure of 800,000.

This is the second consecutive increase, as claims rose to their highest level since September as the COVID-19 pandemic continues to worsen.

Many hope today’s data will help increase the government’s need to act in approving the aid bill.

Source: Bloomberg Quicktake

UK dampen EU Brexit optimism

Senior figures in the UK government today warned that the chances of getting a Brexit deal done were less than 50%.

This comes a day after European Commission President Ursula Von Der Leyen, stated that there was a clear “path” to a deal.

Michael Gove who is a senior Brexiteer,  stated that, “I think that regrettably the chances are more likely that we won’t secure an agreement”.

He went on to say that, “providing the clock has run out and no agreement would have been reached, we will be in a world where we will be trading on WTO terms”.

GBPUSD set a new 2-year high despite the news, reaching $1.36.

Quote of the day – “In a speculative market it is not a bad idea to be a spectator”.

J. Paul Meyer

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

Eliman Dambell

Senior Market Analyst
edambell@tvmarkets.com

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.
Website: www.tvmgloballtd.com

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.
Website: www.tradeview.eu

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.
Website: www.tradeviewlatam.com