All Articles Tagged - US500

Market Comment – Markets seek direction from US CPI report

Posted on February 13, 2024 at 10:21 am GMT

Wall Street eases from highs as investors on standby for US inflation update Dollar supported as yields crawl higher, yen resumes slide Pound lifted by strong jobs data; Bitcoin soars above $50,000 Risk rally cools ahead of all-important inflation report Equities were mixed on Tuesday while major currency pairs traded within their recent ranges, with some exceptions, ahead of the crucial CPI numbers due out of the United States later in the day. After flirting with record territory again on [..]

Market Comment – S&P 500 hits 5,000 milestone as US CPI awaited

Posted on February 12, 2024 at 10:15 am GMT

Fading rate cut bets fail to deter tech rally as S&P 500 tops 5,000 Relief as no major changes in annual US CPI revisions, January report eyed next Dollar drifts sideways in thin trading amid holidays across Asia Tech boom leads S&P 500 to new record Shares on Wall Street extended their record streak last week as upbeat earnings as well as relief that the annual review of the US consumer price index left the inflation trend largely unchanged offset [..]

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 500 index displays fresh all-time high

Posted on January 30, 2024 at 9:40 am GMT

US 500 index holds above 161.8% Fibonacci extension MACD and RSI in overbought territories The US 500 (cash) index experienced a fresh rally during Monday’s session, and today it posted a new all-time high of 4,833. The price surpassed the 161.8% Fibonacci extension level of the downward wave from 4,600 to 4,100 at 4,920, endorsing the aggressive buying interest. The momentum indicators are supportive of this upleg. The RSI is appearing positive above the 70 level, and the MACD oscillator is [..]

Market Comment – Tech stocks rally on AI boom even as yields rise, dollar steady

Posted on January 19, 2024 at 10:26 am GMT

Apple and semiconductors push Nasdaq 100 to new record high But Fed repricing limits gains outside of tech as yields edge up Dollar holds firm, pound slips on data, yen propped up by verbal intervention AI optimism spurs tech rally AI mania made a comeback on Thursday as optimism about a recovery in AI-related demand as well as the broader tech sector boosted equity markets. Apple and TSMC were the main catalysts for yesterday’s rally, ending a two-day rout on [..]

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 – New Year selloff eases despite Fed ambiguity, dollar falls back

Posted on January 4, 2024 at 10:25 am GMT

Fed minutes dent hopes of early rate cut but markets perk up anyway Higher services PMIs lift sentiment in Europe and Asia, boosting US futures too Dollar rebound pauses for breath, oil jumps on supply concerns Fed rate cut bets little changed after December minutes Markets wavered after the Fed published the minutes of its December policy meeting on Wednesday as investors weighed the prospect of rate cuts amid mixed signals from policymakers. The minutes gave no indication that rate [..]

Technical Analysis – US 500 index edges closer to all-time high but does rally still have legs?

Posted on December 27, 2023 at 3:52 pm GMT

US 500 stock index nears 2022 record high as it extends year-end bull run But upside momentum appears to be waning Is a near-term correction on the cards? The US 500 stock index (cash) made further progress towards surpassing its all-time high of 4,817.51 on Tuesday but was nevertheless unable to crack the 4,800 level. The index is trading marginally lower on Wednesday, with the momentum indicators reflecting this weakness. The RSI has flatlined just above the 70 overbought mark, [..]

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