
The G20 summit took place in Bali, Indonesia, on November 2022…
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While growth stocks have stepped back in the first quarter of 2021, cyclical stocks have come to the fore. The term ‘cyclical’ refers to a stock in which business generally follows the economic cycle of growth and recession. In other words, cyclical stocks are rising in times of economic expansion but falling during recessions and market instability. Indeed, stocks involved in such sectors as technology, e-commerce, online shopping, and streaming services skyrocketed amid the long Covid-19 lockdowns, but have already started falling amid ongoing recovery.
The travel and hospitality industries have been hit hard by social distancing restrictions amid the pandemic. Since the constraints are easing, people are more willing and able to spend money on traveling. Thus, such stocks as Booking, TripAdvisor, Royal Caribbean, and Carnival are edging higher.
For instance, you can trade TripAdvisor in our app FBS Trader. It is getting closer to the high of March 4 at $55.00. If it manages to break it, the way up to the next round number of $60.00 will be clear. Support levels are at the recent lows of $50.00 and $47.50.
Automakers tend to fall during recessions as consumers save money and keep their old vehicles instead of buying new ones. In opposite, people are more motivated to buy new cars during expansion. Therefore, such stocks as Ford, General Motors, and Ferrari are likely to jump in 2021.
If General Motors manages to break through the resistance of $57.00, the dorrs to the psychological level of $60.00 will be open. Support levels are $50.00 and $45.50.
Banks are usually losing their profits during recessions. Most people stop taking mortgages, and loans or even struggle to pay their debts. Besides, interest rates tend to fall before and during recessions, as a result, banks’ profit margins decline. JPMorgan, Goldman Sachs, and Bank of America should rise in 2021 amid the global economic recovery.
JPMorgan is climbing up and up. If bulls keep momentum, it may reach the next round number of $160.00. Support levels are the low of February 26 at $147.00 and the low of February 11 at $140.00.
Remember that with FBS you can make both buy and sell trades. Thus, traders have a chance to profit in case of either outcome!
Note that the stock exchange has a schedule. Trading starts at 16:30 MT time.
Don't know how to trade stocks? Here are some simple steps.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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