#DAX30:
Inflation in the euro zone figures out this week showed a negative reading for the fourth month running. One of the questions about this process is what’s going to be the new inflation target. Some members of the ECB’s Governing Council are advocating either average targeting or some sort of make-up strategy. The IMF also said this is something the ECB should be looking at. The market is looking for around about 500 billion euros more of PEPP, plus more TLTROs with potentially looser conditions. This factor will have a positive impact on inflation. This is good news for the German stock market!
Trading recommendation: Buy 13150 and take profit 13410.
#SP500:
Moderna will be able to produce 500 million doses of its COVID-19 vaccine in 2021, Chief Executive Officer Stéphane Bancel said. The company has submitted applications seeking emergency use authorization in the United States and the European Union after full results from a late-stage study showed the vaccine was 94.1% effective with no serious safety concerns. The Food and Drug Administration is set to hold an advisory committee meeting on Dec. 17 to discuss the company's request for emergency authorization for its COVID-19 vaccine. A positive signal for the U.S. stock market!
Trading recommendation: Buy 3675 and take profit 3722.
#WTI:
Crude’s rally was heightened by the ability of oil producers within the OPEC+ alliance to add just 500,000 barrels to daily production instead of an initially feared 2 million barrels. For the week, WTI rose 1.9%. That came after November’s whopping 27% gain, which was the U.S. crude benchmark’s best for a month since May. Expectations that the U.S. Congress might agree soon to a Covid-19 fiscal stimulus also boosted the market. Stimulus plans such as these tend to weaken the dollar and boost commodities denominated in the currency, which include oil.
Trading recommendation: Buy 45.05 and take profit 46.60.
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