The Market is Headed Much Higher with Peter Hanks

from Financial Survival Network

Peter Hanks joined DailyFX as a Junior Analyst after contributing market insights while still a student at Loyola University Chicago where he received his degree in Finance. Actively trading since he was a teenager, Peter focuses on using fundamental analysis to trade around macroeconomic issues, while utilizing technical analysis to find attractive entry and exit points. His experience ranges from spot currency, commodities, stocks and options. In his role at DailyFX, Peter centers his attention on the US equity market, closely following earnings season and other corporate developments that are influenced by broader macroeconomic matters. To that end, he has conducted presentations on the stock market impact from themes that include trade wars, global growth, geopolitics and monetary policy at the Chicago Trader’s Expo. World stocks edged higher on Tuesday, lifted by strong earnings from big U.S. drugmakers Merck and Pfizer and expectations of another dose of policy stimulus from the U.S. Federal Reserve, while oil prices pared earlier losses. European shares slid as they headed toward their worst quarterly earnings in more than three years. The benchmark U.S. S&P 500 index eked out a fresh record high, led by Merck and Pfizer, though a disappointing profit report from Google parent Alphabet kept the technology-rich Nasdaq in the red. The index breached its all-time high set in July on Monday, spurred by hopes of a U.S.-China trade deal and expectations of another Fed rate cut. The steepening of the two- and 10-year yield curve suggests a budding risk-on sentiment among investors, now that some form of a U.S.-Sino trade agreement is likely.

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