It has not been a great week for the US Indices as the Nasdaq and S&P had their biggest weekly declines since February of this year, following tapering suggestions as to the Fed ramp-up to announce tapering in next month’s FOMC meeting.
ISM Manufacturing PMI and Consumer Sentiment is set to be released at 16:00 (SAST) to take note of.
- Virgin Galactic (SPCE) was up 12.15% following the FAA clearance to resume flights
- NetEase Inc (NTES) was up 4.53% as a majority-controlled subsidiary plans to sell its Academic AST business
- Oracle (ORCL) was down 4.52%
- Autohome (ATHM) was up 3.78%
Stocks to watch:
As vaccination rates and continue to increase and global travel pics up, travel stocks has continued to break pre-covid levels as investor speculation in the travel industry gains traction.
Technically the chart is setting up well as we’re getting a retracement back down to the rising wedge, targeted entry should be between $84-$86.