The stock market started raising the week after investors accumulated a high probability that the US tax reform would be voted on. Stoxx Europe 600 climbed to a seven-week high, after strong growth in real estate, automotive and technology companies.
US futures indicate that markets beyond the ocean will start the upward session. The SP500 will start trading at around $ 2690. The Dow Jones will begin trading close to $ 25K, at $ 24,813. Nasdaq Composite futures also rose, but unlike SP and Dow, minutes before the opening of the US stock exchanges, it recorded a strong downward momentum.
Which sectors should we target?
Taking into account the growth of the automotive sector during the Asian and European sessions, we expect US automotive companies to see a rise. At the time of the Ford sale, it traded with a 0.56% increase and General Motors with + 0.36%.
The positivism stemming from the likelihood that the Senate will vote for the Trump Tax Plan is strongly positive for the US banking sector. We expect the opening of the markets, Wall Street leaders to rise. Citigroup trades with a 1.12% increase in trades, Bank Of America Merrill Lynch with 1.38% and Goldman 1.34%.
Jr Trader Petar Milanov
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