STOCK PRICES AND NEWS

Dow Futures (YM) breaks record: Five waves Elliott Wave impulse in sight

Dow Futures (YM) has surged to a new all-time high, reinforcing the prevailing bullish trend. The cycle from the April 2025 low remains active and is unfolding as a five-wave impulsive structure. Within this sequence, wave (3) concluded at 48,214.

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NASDAQ

Latest Nasdaq News

S&P 500

Latest S&P 500 Analysis

US EQUITY INDICES

The Dow Jones Industrial Average (DJIA) is a price-weighted average of 30 most-traded stocks traded in the United States (US). It is often viewed as representative of “old economy” stocks and is considered a leading indicator for international investment.

While the Dow reflects the big money, the Standard and Poor’s 500 (S&P 500) is often the preferred gauge of equity markets due to its broad market coverage. The S&P 500 is a market value-weighted index comprising 500 large US stocks, covering about 75% of the US equity market.

The Nasdaq Composite is highly followed in the US as a performance indicator for technology and growth companies. The Nasdaq-100, which includes 100 of the largest non-financial companies in the Nasdaq Composite, accounts for about 80% of the index weighting of the Nasdaq Composite. The Nasdaq Composite is a capitalization-weighted index and it includes both US and non-US companies listed on the Nasdaq stock market. The NASDAQ represents the speculative retail money.

Generally speaking, a rise in the US equity markets tends to increase investors' risk appetite attracting foreign investment to the US equity market and pumping the US Dollar (USD) higher.

EUROPEAN EQUITY INDICES

Germany DAX - Daily

UK FTSE 100 - Daily

The DAX is a stock market index consisting of the 40 major German blue chip companies trading on the Frankfurt Stock Exchange. It is a total return index and prices are taken from the Xetra trading venue.

The Financial Times Stock Exchange 100 (FTSE 100), informally known as the “Footsie”, is a market capitalization-weighted index representing the top 100 blue-chip companies on the London Stock Exchange. The index represents over 80% of the total market capitalization in the United Kingdom (UK). Stocks in the FTSE 100 are free-float weighted, ensuring that only the investable opportunity set is included in the index.

JAPANESE EQUITY INDICES

The Nikkei 225, commonly called the Nikkei, is a stock market index for the Tokyo Stock Exchange (TSE). It is a price-weighted index, operating in Japanese Yen (JPY), that measures the performance of 225 highly capitalized and liquid publicly owned companies in Japan. It has been calculated daily by the Nihon Keizai Shimbun (Nikkei) newspaper since 1970.

Nikkei225 - Daily

Relationships between stocks and currencies

Currencies are probably the most difficult asset class to fit into a consistent intermarket model. For instance, when investors purchase stocks from a particular country, they must pay in the local currency, increasing the demand for that currency. Conversely, a strong currency can make bonds and stocks more attractive to foreign investors.

However, the correlation between stocks and currencies is not always clear. There are often response lags between the reactions of Forex and equities markets, leaving investors holding foreign equities exposed to exchange rate ﬂuctuations.

This correlation is also fragile among international equity markets. The so-called global divergences occur when the stock market in one country starts performing better than the stock market in another country. This is often driven by currency capital flows from the country with the weaker stock market to the country with the stronger one.

US Dollar Index - Daily

Latest STOCK INDICES Analysis

Editors' picks

AUD/USD holds higher ground near 0.6550 after mixed Chinese data

AUD/USD holds higher ground near 0.6550 in Friday's Asian trading. The Aussie fails to find any inspiration from the mixed Chinese activity data, as the upbeat Retail Sales offset the below forecasts Industrial Output data. The pair also draws support from a broadly weaker US Dollar despite a softer risk tone.

USD/JPY stays depressed near 154.50 amid doubts over a December Fed rate cut

USD/JPY stays defensive near 154.50 in the Asian session on Friday. The US Dollar softens as bets on a Federal Reserve rate cut in December remain quite divided. Meanwhile, the Japanese verbal intervention and falling global stocks underpin the Japanese Yen, acting as a headwind to the pair.

Gold buyers return with safe-haven flows, eyes weekly gain

Gold revisits the $4,200 level early Friday after a sharp pullback, eyes weekly gains. US Dollar consolidates weekly losses amid data disruption and reduced December Fed rate cut bets. Gold remains a ‘buy-on-pullbacks’ trade amid a four-hourly bullish technical setup.

Bitcoin, Ethereum and Ripple flash deeper downside risks as market selloff intensifies

Bitcoin, Ethereum and Ripple trade in red on Friday after correcting more than 5%, 10% and 2%, respectively, so far this week. BTC has slipped below the $100,000 key level, while ETH and XRP have faced rejection at their resistance levels, signaling that bears remain firmly in control and that a deeper correction may be underway.