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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E-Commerce Strategies For the Developing Nations and Emerging Economies – National Level Strategies

E-commerce has the potential to bring many benefits in the economies and societies of all nations which may include growth in economies, enhance export competitiveness and ease jobs and business activities.However, the development and adoption of E-commerce by the developing countries and Emerging economies have so far been limited. Reasons for this are written, discussed and documented much. It is not the purpose of this article to discuss about them.Given those problems and obstacles E-commerce faces in these countries changes can be made if right strategies be put in place. I would like to indicate some E-commerce strategies that I believe should be priorities.1. Raising Awareness
Raising awareness and understanding about the benefits and implementation of E-commerce should be the primary task that these nations should do. Without good level of awareness it is almost an impossible task to practice E-commerce. However, it is not an easy task though. It may take some time to reach desired goals. It is also a sound approach using the Internet in major needs and interest areas of the people such as vacancies, billing information (electricity, telecommunications, etc.)2. E-commerce application for businesses
Electronic way of doing business makes enterprises to become more competitive in the global market. As the enterprises grow, new markets will be accessed and many new employment opportunities will be created. As a result, this facilitates the creation of wealth and sustainable economy.3. Government Roles
Experiences show that in many developed countries that have enjoyed fast growth in ICT, government has been closely involved in promoting ICT development. -United Nations Conference on Trade and Development, E-COMMERCE AND DEVELOPMENT REPORT 2003Government role is vital in the implementation and growth of E-commerce in the Developing nations and Emerging Economies. One of major and effective strategies for growing the practice of Internet usage is through e-government facilities. E-government is giving public facilities through the Internet. As a result this will create the opportunity for the society to explore the potential of the Internet for further business activities.
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