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S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.

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Iron Fist: A Name That Tops the List of Fashion Clothing Brands

Iron Fist is a name that creates a sensation among the youths who are fascinated of streetwear. A brand that originated in California, is totally global today and is among the biggest revenue earners, in terms of clothing and footwear manufacturers. It would be better to define the Californian brand as an idea rather than a company that came out of the brains of two South African friends; Mike and Travis. Highly experienced of music, arts, surfing and skateboarding, the two friends decided to create dresses and shoes that were never seen before. Fond of the lifestyles of skateboarders and Mohicans of the past they planned to design dresses and footwear that would bring those lifestyles back to life. Their idea clicked and the brand is now highly popular across the world.Products of the brand, especially the footwear are now best sellers not only in California but across US and many other corners of the globe. Demand for Iron Fist shoes are now on high in Canada, Australia, South Africa, Middle East, UK and several other European countries. Today there are two flagship stores of the Californian brand; one in Johannesburg and one in Czech Republic. Besides, retail stores that do businesses on large-scale order for shoes of this Californian brand in bulk on a regular basis. In UK, shoes carrying the logo of this Californian brand are available largely in the shopping malls and garment stores. Available in wide range of designs and materials, the footwear provide ultimate satisfaction and comfort to the feet. If you want to make a unique style statement at a club party, then this ‘Iron’ brand is perfect for you. When the ‘Iron’ brand is on your feet, you can expect to be the trendsetter in a party.Though the brand is the brainchild of two energetic men who had a passion for male-dominated activities like surfing and skateboarding, Iron Fist never had any gender bias. The company offers a plethora of footwear of all types for women of all ages. If you are a young lady looking for a pair of gorgeous shoes that can attract eyeballs for you, then try some items of this iron brand. The best thing about your ‘iron’ deal is that along with vibrant color and unique design you buy ultimate comfort for yourself. No matter what your age is, you will certainly get something that suits your choice. Just rush to your nearest mall or shoe store and look for the models. Be sure, some gorgeous wedges, platforms, heels and booties are in wait for you there. Buy one that suits your height and feet and then enjoy a gorgeous look.

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Online Personal Loans With Bad Credit: 3 Online Loan Risks Worth Taking

Low credit scores can play havoc with loan applications, but there is no reason to believe it impossible to secure a personal loan with bad credit. In fact, there are plenty of options available to bad credit borrowers. The only question is which of them is the best option given their specific financial situation.It is always preferable to get a loan with a low monthly repayment, but approval usually means accepting compromises and loan terms that are less than ideal. In many cases, they are high-risk online loans, where the pressure to meet repayments is high, while for lenders, the chances of getting their money back is low.The latter usually means higher interest rates are charged, making the personal loan less affordable. However, it is important to weigh up the pros and cons involved first. Here are just 3 of the most common options available.1. Fast Access Payday LoansA high-risk loan, this option nonetheless provides a high degree of approval certainty. In fact, it is rare to be so confident of getting a personal loan with bad credit without any collateral provided. However, there are compromises to accept.First of all, the loan limit is quite low with most lenders offering a maximum $1,500. Given that approval can be is granted within minutes, and deposited into the account of the borrower within a few hours, it is ideal in dealing with financial emergencies. But it is the terms of repayment that make them high-risk online loans.Granted against an upcoming paycheck, interest rates are still extremely high (up to 30%) and the repayment term is extremely short (14-30 days). This personal loan is repaid in full directly from the paycheck, leaving little over to meet normal monthly expenses with – a $1,500 loan could require a single repayment of $1,950, for example.2. Person 2 Person (P2P) LoansThis is one of the most progressive loan options available online, and one that has its positives and negatives. When seeking a personal loan with bad credit, it offers affordable access to required funds without having to worry about the influence of bad credit scores over the interest rate and terms.These online sites connect individuals rather than applicants with lending institutions. The required sum and repayment limit are advertised by the borrower, and those individuals who are willing to invest in the loan can do so. Considered high-risk online loans for lenders, it is little more than a leap of faith with no recourse should the borrower default.For example, if $4,000 is needed but your monthly repayments budget is $150, then four individuals may invest $1,000 each. When the loan is repaid after 3 years, they will each have earned back $1,350 – that is $1,400 over the borrowed sum, much more than a personal loan from a traditional lender.3. Cosigner LoansA third option is a cosigner loan, which is arguably the most affordable option when seeking a personal loan with bad credit. The interest rate is kept low by a cosigner, who guarantees the monthly repayments will be made without fail. This means the degree of risk a lender faces is effectively removed, and because of this a low interest rate is charged.However, this option can be considered a high-risk online loan by the cosigner since they have promised to take full responsibility should the borrower be unable to make the payments.They must be subjected to a credit check, with lenders needing to know if they have a good credit history and ample income. If they pass scrutiny, approval of the personal loan is practically guaranteed.
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