Most U.S benchmark Indexes closed higher for the third week in a row on surprising CPI data in May and the support of Monetary policy. S&P-500 Breaking its Record. The Tech index Nasdaq-100 showed a momentum of nearly 2%. The midcap index Russel-2000 outperformed. However, The industrial index Dow-30 retreated about -0.8%.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 % in May on a seasonally adjusted basis after rising 0.8 % in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.0 % before seasonal adjustment; this was the most significant 12-month increase since a 5.4-% rise for the period ending August 2008. source: U.S. Bureau of Labor Statistics.
A sharp decrease in longer-term bond yields appeared to support the U.S growth stocks. Oracle, Adobe Systems, and Kroger are three U.S stocks we’ll be releasing its fiscal 2021 second-quarter earnings on Thursday.
With the shares in Europe, the bulls continue to lead the markets forward for the fourth week in a row on lifted in part by the European Central Bank’s (ECB) pledged to continue its high bond purchases into the coming quarter. As a result, the European benchmark indexes closed higher up to 1.3%. The French index CAC-40 outperformed. However, the German index Dax-30 ended as flat.
Most benchmark indexes from the APAC region ended as flat and ranging between -0.2% to 0.3%. However, The Indian index Nifty-50 outperformed and closed higher about 0.8% as a weekly gain.
Weekly market movement
Gold declined about -0.6% as a weekly loss. U.S. crude oil prices rose more than 1%, climbing for the third week in a row and pushing prices above $70 per barrel for the first time since 2019. Bitcoin is ranging around 35K USD with an unclear direction. (https://coinmarketcap.com/currencies/bitcoin/news/).
The below figures shows the news and social media sentiment trend for the week. S&P-500 Breaking its Record. Global Sentiment dominated by the neutral outlook for the week. The sentiment trend for the U.S midcap index Russel-2000 turns in negative mode. The rest remains neutral.
The overall Sentiment for the European region turns into the neutral mode.
The sentiment trend for the APAC indexes SSE-50 and Kospi-100 turns into a Negative zone and The Hongkong index HIS-50 showing a strongly bullish view. The rest remains neutral.
Sentiment Trend Chart
Note: The sentiment scores applied as an additional overlay to your existing models to further improve performance.
Buy & Sell Signals
The below table shows the buy/sell signals generated based on InfoTrie’s proprietary Investment/ Trading models. These models developed using technical, fundamental, quantitative techniques and the news-based sentiment score as an additional overlay.
I have tabulated the random signals from several InfoTrie’s Trading/Investment models.
The news sentiment score provides a significant improvement, significant “Alpha” compared to the traditional investment/trading models.
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