On the first working day after the holidays between Christmas and New Year, there is movement in the markets.
On the one hand through the new stimulus package in the USA and on the other hand in Asia through China.
Alibaba’s share price has fallen more than 10% since the Open.
Thus, the price meets the support that had formed in spring 2020. A fall of another 5% cannot be ruled out, as China will want to introduce new anti-monopoly rules.
The stimulus package that President Trump signed due to COVID-19 made the markets in the US positive.
The Dow Jones, Nasdaq and S&P all started the week with plenty of upside momentum. A real trend will probably not develop until the beginning of next year.
Since consumer spending will increase with the increased stimulus package, the US economy should be strengthened in the short term. Long-term consequences are still to be seen.