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.

Stuck In A Rut – Enjoy These Home Improvement Ideas

Well, you’ve decided to improve your home. Good for you! However, there is so much information that you may not have a clue where to begin. Don’t worry, home improvement tips are here! Listed below are some tips that will help you get started and organized so that you can become a home improvement expert.New wallpaper can transform a room. Before you add wallpaper, you need to find out what type of wall is under the existing wallpaper. Usually walls are either drywall or plaster smoothed over lath. You can figure out what kind of wall you are dealing with by feeling the wall, plaster is harder, smoother, and colder than drywall. You can also try tapping the wall, drywall sounds hollow while plaster does not.If you are looking for home improvement, don’t forget the outside areas of your home too. If you love fish, you may want to consider putting in a Koi pond. They look beautiful, and they can be customized to match the look of your backyard or be made the focal point.If you have a small bathroom and not enough space to store your items, you can easily create some space yourself. Buy some wooden shelves and install them on your bathroom wall. Display your lotions, perfumes and other beauty items on the shelves as well as your smaller towels or toilet paper rolls. This will not only give your bathroom a decorative boost, it will also organize it.Before beginning a home improvement project, make a list of the actions you think will need to be taken from start to finish. Obtain a second opinion from a trusted source to see if there are any steps you missed or anything you didn’t take into account. Plan to set aside plenty of time for your project, as it might take longer than expected.The shingles on your roof will at some point need to be replaced. As asphalt shingles get older, they start to lose the bound granules and curl up on the corners of the sheets. If you are experiencing leaks that have gone through the ceiling, then it is definitely time to lay down a new roof. Otherwise, if your roof has lost several shingles, this is a less drastic but firm indication that it’s time to replace the roof.When you are getting ready to deep clean your deck, make sure you have all of your materials ready before hand. Some of the things you will need to get together are a pressure washer, a nice sturdy scrub brush, commercial deck cleaner, a hose, and a hefty broom you can use outdoors.Before beginning home improvements apply for the appropriate building permits. Any home improvement that involves plumbing, electricity, or structural changes can require a permit. Check your local laws. If you proceed without a permit then you can be fined or it could make the house harder to sell in the future.When it comes to home improvement, be sure that you are not causing your home to awkwardly stand out from the rest of the neighborhood. This will ensure you will be able to resell it and also, that you will not receive scorn from your neighbors. Be creative, but try to lean toward conservative with colors. With additions, keep your the total size of your home somewhat near that of your neighbors.If you live in an older home with a wooden floor that is beyond sanding and staining, add a few coats of oil-based paint over the planks. Choose a paint that is intended for outdoor use on decks or porches; this ensures that it will be able to withstand the occasional wet spill and light traffic. It can also hold you over until you have the resources to replace the floor altogether.If you want to make your house shine then look to the curb appeal. First impressions are important with people, and they are just as important to your home. Consider repainting if your color is fading or is dated, and choose colors and other details that fit into the era of your house.You should feel better after reading those tips when it comes to home improvement. That was a lot to think and read through, but at least you should have an idea of what to do and where to begin with improving your home safer and smarter. In addition, you can always come back to this list.

Hip Hop Fashion Trends – Then and Now

Hip hop fashion trends are not a newcomer to the fashion scene by any means. In fact, this style has been around since the 1980′s, when celebrities like Will Smith and Christopher “Kid” Reid showed youth how it should be done. Of course, hip hop fashion trends have evolved over the past two decades as tastes and styles have changed to correspond with the culture of the time. The following will offer you a brief but colorful history into the world of hip hop, with some of the current fashion design today.Early Hip Hop In the 1980′s, major brand names became synonymous with the hip hop fashion trends. Brands like Nike, Adidas and Clark shoes were sported with leather bomber jackets and brightly-colored track suits. Sports jerseys were a hot commodity, with Will Smith showing them off in his hit television show, The Fresh Prince of Bel-Aire. This was the time when heavy gold jewelry and large sunglasses came into play, creating an image of wealth and luxury in the hip hop culture of this time. In the latter part of this decade, MC Hammer and other rappers introduced hip hop fashion trends like baggy pants and baseball caps.The Gangsta Look In the 1900′s, hip hop fashion trends shifted to the gangsta look in the fashion of the Los Angeles Chicano gangsters. This style sported baggy pants that were worn low and without a belt, shirt tails hanging outside the pants and bandanas on the head. In the midst of this fashion trend, designers were also providing something that the youth of this time liked, and brands like Tommy Hilfiger, Polo and Nautica also came into vogue. At this time, hip hop fashion trends evolved into urban streetwear, with names like Mecca USA, Lugz and Rocawear coming into play.Flash and Bling The turn of the century saw hip hop fashion trends switch to flashy ensembles and bling bling jewelry, made popular by the likes of Jay-Z and The Hot Boys. High end designers like Gucci came onto the hip hop scene during this time as well. Today, the hip hop look has toned down somewhat, with hip hop fashion trends that are more tailored and professional – preppie hip hop, if you will. However, since the hip hop fashion trends are primarily embraced by youth, this style will always be cutting edge and separate from the fashion mainstream. After more than two decades on the fashion scene, it appears that this trend is more than just a trend – it is a fashion icon that is here to stay.