S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
Advertisement

Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

What Gardening Equipment You Need to Pursue Your Hobby

Gardening for a greener, healthier and more habitable America is one of the causes promoted by the National Gardening Association. The organization is encouraging everyone to pursue gardening as a job or hobby. You can do it, too, if you know how to start your own garden. However, you need to consider a few things first to determine what type of garden you can create. Some of the things that you need to look into are location, gardening equipment, type of soil, gardening tools, supplies, and more.Some people opt to grow annual and perennial plants in places where these plants are suitable, while others opt to start a vegetable garden that is maintained as an organic harvest. These types of gardens are often found in suburban homes. These are often cultivated with the parent’s desire to add more nutrition into the meals of their kids every day. The vegetable garden is a good way to ensure that you will have fresh harvest that is easily within reach.To make this garden productive, you need basic gardening equipment. The necessary equipment and tools can help you put your gardening plans into fruition.Protective Gardening GearWhile you are outdoors toiling on your garden, you need to wear protective gear. By wearing the right gear, you will be protected from the dirt, germs, mud or other harmful stuff that could come from gardening. However, you might be a bit worried at first thinking about the additional cost of having to buy protective clothing and other necessary gears. You don’t need to worry at all because the equipment that you need are not really expensive. Wearing the right gear is also more cost-effective rather than wearing and damaging your trainers, shoes or flip-flops while gardening. By having on a pair of heavy-duty wellington boots or gardening tools, your shoes will be completely protected from soil, gravel, stones, sturdy roots, falling tools, muddy grounds after heavy rains, and other conditions that could put you in danger.There are several garden shoes to choose from, but the sturdiest brands would be your best choice. You can also wear gardening aprons with pouches and pockets that can hold your hand tools, plant labels, seed packets or garden twines. They can also secure your mobile phone and other important personal times while you are gardening. Gardening gloves can protect your hands from cuts, and you can choose among the lightweight and heavy-duty types.Additional Gardening EquipmentThere are garden equipment kits that you can order online. Some good kits include trowel, transplanter, hedge shear, weeder, narrow trowel, knee pad, edging knife, pitch fork, hose nozzle, water stop, adjustable metal hose nozzle, water tap adaptors, and more. You may also buy a tool seat consisting of a chair and tool kit.Garden AccessoriesFun garden accessories are available to make your garden look even more beautiful and functional. You can choose from automated sprinklers, patio heaters, bird houses, greenhouse vents, basket and trugs, carts and containers, seed tray, rain water butt, sprayers, and others.

Let Hostgator Help You Do More Business Online

HostGator can help you boost your online sales. Doing business online can be highly profitable, but only if you can figure out how to get your piece of the online pie. With millions of websites being created everyday, sometimes it can be hard not to get lost in the crowd.There are some elements that all of the most successful business websites have, and HostGator can give you all of them. Competition online is fierce, and small businesses need the tools that HostGator offers in order to get noticed and get sales. Use these tools from HostGator to boost your online sales and take your online business to the next level of success…Integrated Shopping Cart – The most important tool for getting more online sales is to have a website with a fully integrated shopping cart. If there are problems with the shopping cart, customers won’t wait around to see if it works, or wait and contact you in order to purchase, they will just move on to another site that has a functional cart.With HostGator you can use the shopping cart that they offer which is built to work with their web hosting service or you can use one of the many different plug and play shopping carts on the Web. No matter what shopping cart you want to use, it should work with HostGator. Never worry about whether or not your cart is functional again and watch your online sales climb.Marketing Tools – Successful online businesses have become experts at using blogs, social networking sites, and other new media in order to sell their products and drive traffic to their websites. HostGator gives you the tools that you need to do that too. Add a blog to your website for your free, integrate sharing tools so that customers can post items to their favorite social networking sites, and use the new media tools that HostGator offers to market your website to today’s web savvy customers. Mastering the art of online marketing is a lot easier with the tools that you get for free from HostGator with any regular hosting account. You can also get $50 of credit for Google AdWords free when you sign up for an account.Stats – Finding out how customers are searching for your site, what terms they are using, and what pages they are visiting on your site is important data. Knowing what your customers are looking for, what products they like and what products they don’t is valuable information that you need to have in order to create a viable, affordable marketing plan that will reach your target market.Many businesses don’t have a lot of money to spend on marketing and promotion, especially these days, and having accurate, detailed demographic data can help business owners save money and create more efficient and effective marketing campaigns. HostGator gives all account holders a very detailed stats package that can be used to help create a viable online marketing campaign that will boost internet sales.These are just some elements that HostGator Web Hosting offers that can really help your online business thrive and empower the webmaster to build and structure their website correctly – for success!