[Video] Europe outperforms, are soybeans overcooked?
Matt Simpson March 31, 2021 3:46 AM
European equities have outperformed their US counterparts this week, a US listed stock breaks out and soybeans trend is under threat. All in today’s video.
Wall Street was mostly lower overnight, unlike their European rivals which all rose in unison. So we catch up on the Euro STOXX 50 to review our bullish bias.
Agricultural commodities have come under pressure of late, with wheat futures falling nearly -13% since the end of February. But whilst corn prices are holding up after an 85% rally since August, soy bean futures appear to be closing the bearish gap with wheat. So we also take a look at key levels for soy and its potential downside.
S&P 500 (-0.32%) 30 March 2021
- The index closed -0.64% below its 52-week high
- 246 (48.71%) stocks advanced and 259 (51.29%) declined
- Consumer Discretionary (0.75%) was the strongest sector and Consumer Staples (-1.13%) was the weakest
- 4 out of the 11 sectors outperformed the index
- 91.29% of stocks closed above their 200-day average
- 80.99% of stocks closed above their 50-day average
- 73.27% of stocks closed above their 20-day average
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