Dow Jones and S&P500 to Open Green Today; Bitcoin Breaks $11K Mark

Dow Jones (DJIA) and S&P 500(SPX) both are expected to open in green on 19 Feb. 2018, extending its positive trend of last week.

The Dow and S&P 500 both rose 4.3% last week, lodged their sixth straight upward trend, notched a slight gain at the close of market at 19.01 and 1.02 higher respectively.

It was best weekly performance for Dow and S&P 500 since 2016 and 2013 respectively. While Nasdaq jumped 5.3%, and recorded its biggest one week gain since 2011.

Asian markets also closed mostly higher. In which NIKKI 225 index closed with 2% rise. South Korea’s KOSPI jumped 1%, and most of the market in the region closed due to lunar New year holiday.

Dow Jones industrial futures added 35 points to 25, 271, S&P 500 futures added 5.25 points to 2,740.25, while Nasdaq 100 futures added 17.75 points to 6,804.5. All three benchmarks Dow, S&P 500 and Nasdaq are up this year, mainly due to factors like growth in profit of Corporate and expansion of US economy.

Overall emerging Market index MSCI, which tracks shares in total 47 countries, climbed 0.2%.

US Dollar edged up

If we talk about performance of currency market, then we can see dollar came under pressure. Dollar climbed up from three year low of a basket of currency.

The Euro noted three year high at $1.2556 on Friday and now stood at $1.2406. While, dollar against yen traded at 106.63 yen,  which is back from its 15 month low of 105.545 on Friday, 16 Feb.

Brent crude also rose 0.3% to $65.05 per barrel.

Bitcoin above $11,000 marks

Bitcoin also rose above $11,000 mark in for the first time in four weeks because of recovery from heavy selloff of digital currency in starting of this month.

Other crypto currency like Ethereum, which is world’s second largest crypto currency rose by 4% to $944.70. While the third largest crypto currency Ripple increased 8.5% to $1.1308.

And Litecoin increased 5% to $223.10.

Dow and S&P 500 is Expected to open in green?

As per our analysis market will hold its uptrend of last week, as investor’s sentiments for equities are strong.  So, it is expected that market will continue with last week trend.