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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Ideas to Help Your Business Display Sunglasses at the Point of Purchase

Imagine yourself in line at your favorite grocery store. When you look around, you see a variety of products being offered to you: gum, candy, magazines, etc. These low-price items are always placed near the cashier because the grocery store knows you will have free time to consider buying them while waiting. The longer you wait and the cheaper the product, the higher chance there is of you deciding to add it to the rest of your groceries. This is a retail strategy known as Point-of-Purchase (POP) displays, and is an effective way to display sunglasses.There are many different ways to display sunglasses, but POP promotion requires different models than you would usually imagine. One of the most common methods is counter top eyewear holders. These models allow a customer to view products more quickly than most because of their size and location. Placing them on the counter top near the register puts them in the direct eye-line of those waiting, which makes sure that the customer is aware of them and will at least consider the products being offered. If you want to effectively display sunglasses in a POP case, simplicity and ease of use will help your chances of making an additional sale.Display sunglasses in a case, rack or holder that allows a customer to quickly view all of their options. Time is of the essence, so you may choose a model that holds all of the sunglasses on one side, directly facing the customer. These displays are even more effective when given a unique design, including the shape, material, and colors. Another option would be to offer a selection of merchandise on a rotating display, allowing someone to browse through even more sunglasses in a short time frame. However, it is important to not over-stock these cases since the customer could become overwhelmed by the selection. Also, a mirror should always be placed on the case or near it when you display sunglasses. This lets them see how they look without searching for another mirror.An effective way to display sunglasses in your store is the use Point-of-Purchase (POP) models, which allow you to promote your eyewear to customers quickly and effectively. Anyone who approaches the POP will be aware and curious of the selection you have conveniently provided for them. Choosing the right style of display for your business can make a POP display really stand out, so make sure you check out all of your options.