Whether it is a multi billion dollar corporation or a newly set-up small business accounting software is more than a mere convenience. It is absolutely crucial for any business, irrespective of its size. For with no proper accounting software, companies can find themselves unable to meet the mandatory compliance issues. Furthermore some others could even experience multi billion dollar financial fraud of the kind Enron and their like that have made very popular. More than the big corporations, it is smaller businesses that need professional accounting software. Since most of them are carry out small-scale operations and often too small to be able to pay for the services of a full time accounting professional, in fact they depend more on small business accounting software than their big counterparts. And through years, as an increasingly number of people have taken the entrepreneur way, small business accounting software has become a large industry in its own right.Firstly what do you know about small business accounting software? Basically small business accounting software, as the name suggests, is accounting software specifically prepared to cater to the needs of the small business. Small businesses have their own specific requirements, specific needs, specific tax calculation structures and even specific sops. Small business accounting software hence combines these specifics into consideration to build or work out a special small business accounting package that such businesses could use. Small business accounting software also guarantees that firms with restricted manpower resources don’t have to spend in the hiring costs of expensive accountants to manage their records.A number of small business accounting software available today are relatively easy to use, simple and cover a host of complex options. Previously small business accounting software was not so popular because the small businesses were not as well-structured as they are at present; simply because there weren’t too many small businesses to make the production of a specific small business accounting software profitable.But the times have changed. And small business at present comprises well over 25% of all businesses in the United States of America. With this new critical mass, both the manufacture and distribution of small business accounting software has become not just practical, but also very profitable to the manufacturers of small business accounting software.This includes even big players like Microsoft who have identified this business need and have special small business accounting software packages. Moreover every time you buy a premium laptop or computer, you will in all possibility get a bundled software package that includes some sort of small business accounting software. Sites like download.com offer a number of small business accounting software, some of which at no additional cost. So, if you haven’t yet already started using it, surely it is about time you did!

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.
Advertisement

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.