Bitcoin price today: muted at $118k but altcoins soar as House passes new bills
Friday morning, the S&P 500 Index e-mini futures (ES-Z2) traded lower by 6.25 points to $1369.00 per contract. Traders and investors seem to be selling the stock markets again as the U.S. fiscal cliff looms and the European Union problems become front and center again. Since the U.S. election results were released on Wednesday, the Dow Jones Industrial Average (DJIA) has declined by more than 400.00 points.
Later today, President Obama and Speaker of the House John Boehner will be holding a press conference regarding the U.S. fiscal cliff. It looks as if the stock market is once again forcing the politicians to do their job. Traders should expect more volatility in the market today if there is nothing positive from politicians.
Most leading stocks sectors have been very weak since the election results were released. Some leading equities that are short term oversold include Energy Select Sector SPDR (ETF) (XLE), ProShares Ultra QQQ (ETF) (QLD), Utilities SPDR (ETF) (XLU), and the Materials Select Sector SPDR (XLB). All of these equities could see a bounce if the markets can somehow reverse and trade higher later today on positive political news.
Below you may find the video.
Later today, President Obama and Speaker of the House John Boehner will be holding a press conference regarding the U.S. fiscal cliff. It looks as if the stock market is once again forcing the politicians to do their job. Traders should expect more volatility in the market today if there is nothing positive from politicians.
Most leading stocks sectors have been very weak since the election results were released. Some leading equities that are short term oversold include Energy Select Sector SPDR (ETF) (XLE), ProShares Ultra QQQ (ETF) (QLD), Utilities SPDR (ETF) (XLU), and the Materials Select Sector SPDR (XLB). All of these equities could see a bounce if the markets can somehow reverse and trade higher later today on positive political news.
Below you may find the video.
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