Will markets urn higher? | BDSwiss Weekly Market Outlook

-Goldman Projections The institute from the US is projecting further gains in the stock market. According to Goldman Sachs the S&P 500 might rise towards the level within this year. Potential headwinds from the upcoming elections seem to weigh less in markets. A robust job market, rate adjustments by the Fed and rising corporate earnings might generate a further uplift in general. The target level would roughly account for 4% growth throughout the year. Stronger growth and higher profits in particular in the tech sector as well as communication services cause the bank to remain strongly bullish. -Apple Fines Apple has to bear a fine of nearly EUR 500 million in the European Union. According to the EU watchdog, the company is not offering competitors like Spotify among other streaming services to be listed on their platform. The company’s main issue is that it falls short of offering cheaper alternatives outside of its App Store. Shares of Apple remain well bid but might show some profit-taking based on the current charting pattern. This is the first penalty for Apple in the EU. The impact on their share price seems limited, though. -Chinese Stocks The Chinese stock market is seeing some uplift since trading has resumed after the CNY period and on Monday traders returned to their desks after 11 days of holidays. Premier Li Qiang stated that the nation’s confidence will be restored by applying pragmatic and forceful measures to support the economy. -Market Talk The US- Dollar looks set to offer further weakness this week. As mainly the EUR and AUD have resumed some upside off the current support zones, markets might gear up some momentum this week. On a technical level, the European common currency faces positive potential due to the positive pinbar candle of the weekly chart. This could cause the market to run higher. The weakness of the Greenback also helps the risk sentiment to remain positive. Cryptos have been on the run as well and in particular, BTC and ETH look set to continue their trend to higher levels. The overbought levels on the RSI indicator might be taken into consideration as profit-taking might cause a correction at some point. This week does not see major data releases apart from the FOMC Minutes. Oil might break to the upside and hence the CAD could gear up steam again. Check the UPCOMING WEBINARS here: • Download the BDSwiss iOS app: • Download the BDSwiss Android app: • Join our Telegram Channel: • Like us on Facebook: • Follow us on Twitter: • Follow us on LinkedIn: • Follow us on Instagram: • Subscribe to our Channel: Your capital is at risk. T&Cs apply.