US Open. Market Overview for 25.10.2016

Pre-Market:

The S&P 500 is trading up 0.10% pre-market. German stocks are trading up, the DAX rising 0.34%. Sentiment amongst German companies is upbeat, as such the IFO business climate indicator for October came in at a higher than expected. The indicator greatly beat consensus of 104.50, to come in at 106.10, showing that the German economy is optimistic towards its future. Largest gaining stock in the DAX is Deutsche Telekom. Its US subsidiary T-Mobile, of which Deutsche Telekom holds 65%, rose by 9.5%. T-Mobile reported excellent quarterly numbers, having increased its sales through Apple´s new iPhone 7. We expect a higher open to Wall Street. The USD trades firmer. Gold rises, as WTI Oil is unchanged.

S&P 500

The S&P 500 is in a sideways trend. Resistance is at 2200 and support at 2115.

Nasdaq 100

The Nasdaq 100 is in a sideways trend. Resistance is at 4900 and support is seen at 4800.




RoboForex Analytical Department