Indeed, rallies failed in early-June, mid-August, mid-December, and in early-February of 2023. Once the SPX broke below the cloud in May of last year, it has failed to thrust back above it on a weekly closing basis. The entire cloud is shifted forward in time in order to provide a glimpse of future support and resistance: Two of these lines are used to create cloud boundaries. Utilizing midpoints of ranges, a number of lines are generated. Ichimoku cloud is technical indicator which displays support and resistance, identifies trends, and measures momentum. Thus, the benchmark index flirted with the upper edge of the weekly Ichimoku cloud, which resides around 4,155. The SPX hit a high on Friday of 4,163.19 before closing out the week at 4,137.64. Thus, bulls may soon learn whether their worries are just like passing clouds, or if instead, another storm may be brewing. SPX ended last week flirting some major chart barriers. S&P 500 INDEX: ABOUT TO BE A BREAK IN CLOUDS? (0900 EDT/1300 GMT) Here's a full list of European ESG stocks, recommended by Citi with resilient EPS: Stocks in Europe that could benefit from these trends, according to Citi, include luxury firms such as Richemont CFR.S, and Kering PRTP.PA and pharmaceutical firms like Novo Nordisk NOVOb.CO.Ĭiti's list of resilient ESG stocks have gained 14% on average so far this year, outpacing the 10% gain in 2023 by the broader STOXX 600 index. Real rates are stabilizing and ESG is a "growth trade" so subsiding valuation pressures should help these stocksģ. ESG earnings have been resilient to past profit recessionsĢ. GREENER PASTURES AHEAD FOR EUROPE'S ESG (0904 EDT/1304 GMT)Īfter a rough 2022, it looks like sustainable investing is back in vogue.Įnvironmental, social and governance (ESG) equity funds ended the first quarter of this year with net inflows, even after the March withdrawals sparked by the banking crisis, beating non-ESG equity funds, which lost money.Ĭiti Research's equity strategy team said there are three main reasons to re-engage with ESG stocks this year -ġ. Market share gains are on the horizon as it opens in major cities and attempts to attract more Indian consumers into the Apple ecosystem. "Apple, with price points across the board, plan to take a page out of their historically successful China strategy in penetrating India over the coming years and unseating traditional competitors," says Wedbush analyst Dan Ives.Īpple is looking at India from both a production and a retail expansion point of view over the coming years - a strategic "poker move," says Ives. This compares with Apple's revenues from the country touching $6 billion in the year through March 2023. Wedbush believes Apple Inc's AAPL.O move to open its first retail store in India kicks off an aggressive push that could ramp up annual India revenue to $20 billion by 2025. You can share your thoughts with us at BELIEVES INDIA IS APPLE'S NEXT MARKET TO CONQUER (0925 EDT/1325 GMT) Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. equity index futures mixed, little changedĭollar up gold slips crude, bitcoin decline
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