The string of strong corporate reports, both in Europe and the United States, have returned investors' confidence. In support of the indices, oil has also emerged from key levels of support. This contributed to the growth of companies in the energy sector, but earlier losses still hold the sector in negative territory. I expect the US traders to correct this by the end of the session.
What to expect from the oil market
Markets also responded on the second day of testimony by Jorome Powell, who confirmed the positive development of the US economy and said the mood among Fed members remained positive. Despite good words, the dollar remains under pressure.
J. Powell optimist for the US economy, USD stay under pressure
Technically, the SP500 managed to break through the basic level of resistance, and the most likely scenario is the test of the highest peak formed before the collapse of markets in February. Dow Jones is still at the foot of the main resistance.
Chart: Used with permission of Bloomberg Finance L.P.
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