All Articles Tagged - US30

Market Comment – Stocks rally ahead of NFP report, pound climbs after BoE caution

Posted on February 2, 2024 at 10:35 am GMT

Wall Street bounces back as earnings beats more than offset disappointments Dollar struggles as mixed US data sets the tone ahead of January jobs report Pound edges up after Bank of England’s Bailey urges caution over rate cuts Wall Street shrugs off blurry outlook Wall Street staged a comeback on Thursday after suffering its worst day since September in the aftermath of the FOMC decision on Wednesday. There was no clear catalyst for yesterday’s rebound as neither the data nor [..]

Is the 5,000 milestone in sight for the S&P 500? – Stock Markets

Posted on February 1, 2024 at 12:51 pm GMT

Mega-cap stocks drive S&P 500 towards 5,000 milestone AI and tech dominate the bull charge to unchartered territory But how sustainable is the uptrend? A wobbly start to 2024 It wasn’t the best start for Wall Street in 2024 as the major indices stumbled during the first week of the new year. However, it didn’t take long for Fed rate cut expectations to take off again and revive risk appetite. More recently, the artificial intelligence (AI) mania has made a [..]

Market Comment – Wall Street hits record as yields slide ahead of tech earnings, Fed decision

Posted on January 30, 2024 at 10:28 am GMT

S&P 500 closes at all time high as yields fall after Treasury cuts borrowing estimate But worries grow about China’s economy amid Evergrande fallout Euro steadies as Eurozone dodges a recession Dollar and gold hold within range as ME crisis, Fed angst keep investors on edge Another day, another record for Wall Street Shares on Wall Street surged on Monday after the US Treasury said it will borrow less in the current quarter than what it had estimated back in [..]

Technical Analysis – US 30 index retreats from record peak

Posted on January 25, 2024 at 2:27 pm GMT

US 30 index finds support at 161.8% Fibonacci Technical indicators suggest bearish retracement The US 30 index is easing from the all-time high of 38,108 and is meeting again the 161.8% Fibonacci extension level of the down leg from 35,685 to 32,320 at 37,800, which had acted as strong resistance over the last month. Technically, the oscillators are indicating a negative correction. The RSI is retreating from the 70 level, while the MACD fell beneath its trigger line in the positive region. Moreover, the [..]

Market Comment – Investors trim Fed rate cut bets ahead of US jobs report

Posted on January 5, 2024 at 10:32 am GMT

Upbeat US job indicators fuel expectations of a strong NFP report Yields and dollar jump, stocks pressured as rate cut bets go into reverse No boost for wounded euro from pickup in Eurozone inflation Markets have second thoughts about big rate cuts Expectations that the Federal Reserve would aggressively slash interest rates this year took a knock ahead of Friday’s nonfarm payrolls report as investors repositioned themselves following some upbeat data on Thursday. The number of Americans filing for unemployment [..]

Market Comment – Fed pushes back on rate cut talk but markets don’t listen

Posted on December 18, 2023 at 10:00 am GMT

Fed officials attempt to dampen expectations of early rate cut Yields jump, stocks slide, but only temporarily as markets unconvinced Yen edges lower ahead of BoJ decision as expectations of imminent rate hike fade Fed begins damage control Federal Reserve officials have hit the speaking circuit for the first time since Chair Powell’s dovish appearance in his post-FOMC meeting press briefing last week, in what looked to be an attempt to steer markets away from aggressive rate cut expectations. New [..]

Market Comment – Euro and pound surge as ECB and BoE diverge from dovish Fed

Posted on December 15, 2023 at 10:21 am GMT

ECB and BoE stick to hawkish stance as Fed becomes dovish outlier Euro and pound skyrocket before paring gains on weak PMIs Upbeat US data fail to deter dollar bears as yields continue to slide, stocks party No rate cut talk at the ECB and BoE Central banks in Britain and the euro area diverged from their US counterpart on Thursday, sidestepping any talk about rate cuts while reiterating the need to maintain higher rates for longer. The European Central [..]

Market Comment – Wall Street parties as Fed signals cuts, dollar tumbles

Posted on December 14, 2023 at 10:30 am GMT

Fed makes long-awaited pivot towards cutting rates, markets rejoice Dow Jones soars to new all-time high, S&P 500 approaches its previous record Dollar takes a dive as Treasury yields sink, gold rallies SNB also holds rates, ECB and BoE decisions coming up next Powell gives markets what they wanted The Federal Reserve left interest rates unchanged as expected on Wednesday but struck a somewhat more dovish tone than anticipated, spurring a powerful rally in bond and equity markets. In a [..]

Market Comment – Dollar stumbles again after soft US data, eyes Powell

Posted on December 1, 2023 at 10:16 am GMT

US dollar softer ahead of Powell as US inflation and consumption cool Euro regains some posture, stocks look to stretch November gains Oil unimpressed by OPEC+ decision for deeper cuts, futures dip Markets cheer receding inflation Rate cut speculation went into overdrive on Thursday after inflation in both the United States and the Eurozone fell to levels last seen in 2021, pushing forward the expected timing of when the Fed and ECB will start to ease policy. The drop in [..]

Technical Analysis – US 30 index continues the upside rally near 35,000

Posted on November 16, 2023 at 8:44 am GMT

US 30 holds above 61.8% Fibo and SMAs RSI and stochastic suggest bearish correction in near term Only a move above 35,985 would shift broader bias to positive The US 30 (Cash) index has advanced considerably after the bounce off the 32,320 support level, overcoming the 200-day simple moving average (SMA) and the shorter-term SMAs. Notably, the price is rallying well above the 61.8% Fibonacci retracement level of the down leg from 35,685 to 32,320 at 34,400 but with weaker [..]

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