Bullish rally on the US stock market! | 12 February 2021

#WTI:

The market has been cheered by the way OPEC+ monthly meeting on output policy played out, with no extra output agreed and plenty of evidence of output quotas being observed. Nigerian output in particular has now fallen to a level that almost compensates entirely for its overproduction last summer, partly due to disruptions at some of its export facilities. In addition, another week of clear drawdown’s in U.S. and international inventories has convinced many that the market is set to tighten meaningfully as demand picks up in the course of the year, pushing back-month futures contracts sharply higher. OPEC+ predicts a shortage of oil throughout this year. The largest deficit is expected this month. A positive signal for oil prices!

Trading recommendation: Buy 56.00 and take profit 58.70.

#SP500:

The US Federal Reserve released fresh statistics on the change in excess reserves of American banks, which increased by $ 30.1 billion over the past week, against an increase of $ 8.3 billion a week earlier. This allows bankers to increase the volume of speculation in the stock market. Democrats in the U.S. Senate were poised for a marathon voting session aimed at overriding Republican opposition to President Joe Biden's $1.9 trillion COVID-19 relief proposal. U.S. vaccine rollout accelerating by the end of this quarter, which, coupled with the Fed's commitment to ultra-loose monetary policy, will put positive impact on the capitalization of the US stock market.

Trading recommendation: Buy 3870 and take profit 3930.

#Ebay:

The company pleased investors with positive quarterly financial results. Returned $529 million to shareholders in Q4, including $419 million of share repurchases and $110 million paid in cash dividends. "We finished the year with strong financial results, but what inspires me most is the support we've been able to extend to small businesses -- providing them with tools, resources and access to millions of buyers globally. We will continue to invest in product and technology in order to deliver the best marketplace in the world for our customers," said Jamie Iannone, Chief Executive Officer at eBay.

Trading recommendation: Buy 60.23 and take profit 63.30.

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