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Global Market Update
 US Markets: U.S. stocks closed higher on Tuesday as investors welcomed
stronger-than-expected construction spending figures for October as well as
robust car sales data. November car and light truck sales were second-highest
in eight years, according to figures from Autodata.
The S&P 500 and Dow Jones Industrial Average scored their best one-day
percentage gains in about a month, while the blue-chip index recorded its
32nd record close this year.
 Day’s Performance: The S&P 500 gained 13.11 points, or 0.6%, to 2,066.55.
The Dow Jones Industrial Average added 102.75 points, or 0.6%, to 17,879.55.
The Nasdaq Composite ended the day up 28.46 points, or 0.6% at 4,755.81.
 Set ups on S&P 500, Dow Industrial Average and Nasdaq 100 are indicating
weakness creeping in, we remain cautious on US markets though it is making
all time highs we expect another round of deep correction coming soon.
 Emerging markets: Asian stocks rose, with the regional index following U.S.
equities higher, while Australia’s dollar slid to a four-year low after data showed
economic growth unexpectedly slowed last quarter.
 Bullions & Commodities: Gold is trading at $1200 per troy ounce this morning
down (0.03%) from previous close. WTI Crude future is trading at 67.71 per
barrel while Brent Crude future is trading at $71.30 per barrel.
 Currencies: The U.S. Dollar Index tracking the U.S. currency against a basket
of six others currencies trading at 88.64 this morning up 0.01% from previous
close. Long term set ups up on Dollar Index are looking strong. It has broken
above 84 on a weekly closing basis. Likely upside in medium term would be
around 89 levels. The dollar and U.S. stocks often trade on opposite paths,
with a weak dollar seen as providing investors with cheap funding to buy
stocks. Plus the dollar’s drop generally helps U.S. companies’ overseas sales.


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