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US stocks dipped yesterday after experiencing two days of strong gains at the end of last week. Dow Jones was down by 0.16%, while the S&P 500 and Nasdaq declined by 0.25% and 0.4%, respectively.
The decrease was caused by investors' worry that the market may not be able to hit new yearly highs after the strong fall last week.
Meanwhile, Asian markets rose this morning: Japan indices gained 2.1%, while China indices climbed by 0.1%.
With regards to the ongoing war in Israel, rocket attacks from the Gaza side have finally dwindled yesterday. Biden, in a conversation with the Israeli prime minister, called for a ceasefire, but reaffirmed Israel's right to self-defense against attacks.
As for the world's epidemiological situation, another decline in incidents was observed, wherein India recorded only 260,000, while Germany and France listed below 7,000. All in all, the total number of COVID-19 cases yesterday was 540,000.
Another good news is the positive forecasts of the Federal Reserve: members expect the US GDP to grow by 7% this 2021.
UK unemployment also fell to 4.8%, which is much better than expected.
As for the oil market, Brent rose by 1%, thereby hitting a price of $ 70.10. It may trade at $72.00 today.
WTI also rose by 1%, so it traded at $ 66.90. It is projected to range from $ 66.00 to $ 68.00 today.
Conclusion: Investors are examining if the market can rally this week.
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