S&P500 reached an all-time high as stocks rise in reaction to Biden’s infrastructure agreement

Published Mon 28 Jun 2021 02:01 by Technical Analyst

S&P500 reached an all-time high as stocks rise in reaction to Biden’s infrastructure agreement with a bipartisan group of senators. NFP report to be on trader’s watchlist.

Last Week Risers & Fallers:

TESLA (NASDAQ: TSLA) stock price rose by 7.64% due to delivery demands optimism, and other electric-vehicle shares have been up, especially Chinese electric vehicle manufacturers. Adding to this is the Whitehouse’s efforts to incorporate more electric vehicles into the infrastructure.

Shares of FACEBOOK went up by 3.10% to $341.37. Despite the challenges Facebook was facing this year, Facebook stocks have been on a rally since April due to investors’ confidence in the company’s growth potential.

FedEx (NYSE: FDX) FedEx stocks slipped 3.63% on Friday; despite revenue growth, the fiscal fourth-quarter results did not impress investors.

NZDJPY gained 2.446%. NZDJPY was under bullish pressure and broke the strong resistance level, closing Friday at 78.31.

Major events to watch:

· USA (USD): Consumer confidence (CB) measure of consumer’s confidence in the economy, as it indicates consumer’s spending. Report to be released Tuesday 29 June at 14:00 GMT. The last reported data in May was 117.2, which was lower than the forecasted 119.2.

· UK (GBP): GDP (QoQ) and (YoY) Q1 release Wednesday 20 June at 06:00 GMT. The last reported GDP (QoQ) in May 2021 was -1.5%, better than the forecasted -1.6%. YoY GDP was matching forecast at -6.1%.

· USA (USD): NFP report to be released Friday 2 July, at 12:30 GMT. The last NFP report was lower than forecast, at 559000 vs expected 650 000. Non-farm payroll measures the number of paid US workers, excluding those employed by the government, farmworkers, the private sector, and non-profit organizations.

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