{"id":20652,"date":"2024-12-04T13:18:30","date_gmt":"2024-12-04T21:18:30","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20652"},"modified":"2024-12-04T13:18:30","modified_gmt":"2024-12-04T21:18:30","slug":"movers-and-shakers-political-turmoil-market-highs-and-economic-indicators","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/movers-and-shakers-political-turmoil-market-highs-and-economic-indicators\/","title":{"rendered":"Movers and Shakers: Political Turmoil, Market Highs, and Economic Indicators"},"content":{"rendered":"\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend!<\/p>\n

Join our\u00a0Private Facebook group<\/a><\/p>\n

Subscribe to our\u00a0YouTube Channel<\/a><\/p>\n

Listen to our podcast: Subscribe on\u00a0Apple<\/a>,\u00a0Spotif<\/a>y,\u00a0Amazon<\/a>,\u00a0or wherever you listen to podcasts!<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Movers and shakers!\u00a0<\/strong><\/p>\n

By Mark O’Brien, Senior Broker<\/p>\n

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General:\u00a0<\/strong><\/p>\n

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Leaders of two staunch U.S. allies, South Korea and France, are facing their ouster today.\u00a0 French Prime Minister Michel Barnier faces a pivotal no-confidence vote\u00a0that risks toppling his government and derailing France\u2019s efforts to get its public finances back on track.\u00a0 This is the result of a monthslong battle over France\u2019s 2025 budget. Mr. Barnier\u2019s proposed budget demands 60 billion euros \u2013 equivalent to $63.1 billion \u2013 in spending cuts and tax increases to narrow France\u2019s deficit, which is projected to reach more than 6% of gross domestic product this year, double the European Union\u2019s limit.<\/p>\n

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One day after declaring martial law \u2013 a type of military control that had been avoided in South Korea for more than four decades, its president, Yoon Suk Yeol, is now facing the prospect of impeachment, creating more political instability for this close Asian U.S. ally.\u00a0 Mr. Yoon\u2019s move to declare martial law late Tuesday night stunned South Korea\u2019s political establishment and caught U.S. officials by surprise. Within about six hours, Mr. Yoon reversed course after lawmakers voted 190-0 against the measure, a group that included nearly 20 lawmakers from Yoon\u2019s own party.<\/p>\n

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More General:\u00a0<\/strong><\/p>\n

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It\u2019s that time of the month again: we\u2019re a couple of days from\u202fwhen the Labor Dept. releases its monthly Non-farm payrolls report.\u202f It\u2019s widely considered to be one of the most important and influential measures of the U.S. economy.\u00a0 The report is released at 7:30 A.M., Central Time on the first Friday of the month.<\/p>\n

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Stock Indexes:\u00a0<\/strong><\/p>\n

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Today, the Dec. E-mini S&P 500, the E-mini Nasdaq and the E-mini Dow Jones futures contracts traded to new all-time highs, with the E-mini S&P 500 piercing 6100, the Dow over 45,000 and the Nasdaq above 21,500.<\/p>\n

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Crypto:\u00a0<\/strong><\/p>\n

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December Bitcoin futures retained its lofty valuation, moving up \u00b1$3,000 \/ \u00b1$3%, above 99,000 and within striking distance of its second highest all-time close after closing at 100,815 on November 22.<\/p>\n

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Soy Complex:\u00a0<\/strong><\/p>\n

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After dropping nearly 8 cents today, January soybeans, the futures\u2019 front month for another few weeks, closed at $9.83\u00be per bushel and remains mired within striking distance of its intraday life-of-contract low at 973\u00bd per bushel posted back on August 14th.<\/p>\n

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Daily Levels for December 5, 2024<\/em><\/p>\n

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Economic Reports<\/em><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/em><\/div>\n
All times are Eastern Time ( New York)<\/em><\/div>\n
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Good Trading!<\/div>\n
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About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/div>\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend! Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts! Movers and shakers!\u00a0 By Mark O’Brien, Senior Broker   General:\u00a0   Leaders of two staunch U.S. allies, South Korea and France, are facing their ouster […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231,76,230,1491,67,30,61],"tags":[],"class_list":["post-20652","post","type-post","status-publish","format-standard","hentry","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-e-mini-futures","category-future-trading-news","category-futures-broker-2","category-futures-trading-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=20652"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20652\/revisions"}],"predecessor-version":[{"id":20653,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20652\/revisions\/20653"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}