All Articles Tagged - US500

Market Comment – Stocks flirt with record highs as rate cut bets run wild

Posted on December 27, 2023 at 10:07 am GMT

Softer-than-expected PCE inflation boosts early rate cut hopes Global shares rise after S&P 500 comes within a whisker of its all-time high Yen slips as BoJ hints at no imminent policy change, dollar muted on depressed yields Stocks get another gift from Santa Equities look set to end the year in buoyant form as the disinflation theme continues to fuel the rally in global risk assets. Shares on Wall Street extended their year-to-date gains on Tuesday after the final major [..]

Technical Analysis – US 500 index rallies to new highs in 2023

Posted on December 19, 2023 at 10:19 am GMT

US 500 completes 8 green weeks Overall trend remains overwhelmingly positive The US 500 cash index rose to its highest level of 4,801 in at least two years. The index is recording the eighth straight green week following the strong rebound off the ascending trend line and the 4,120 support level. Weekly oscillators suggest that upside momentum is still gaining steam, reflecting the latest bullish rally in the market. The RSI has turned up and is ready to cross above the 70 level, while [..]

Market Comment – Yen sinks as BoJ stands pat, crude oil spikes on Red Sea attacks

Posted on December 19, 2023 at 10:16 am GMT

BoJ maintains easing bias, gives little away on pivot timing, pummelling the yen Oil futures jump before steadying amid supply fears from Red Sea missile strikes Wall Street extends winning streak despite some scaling back of rate cut bets BoJ stands pat, dents early rate hike hopes The Bank of Japan kept its policy settings unchanged on Tuesday, wrapping up the final round of policy decisions of the year by major central banks. Despite some speculation of a policy shift [..]

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 [..]

Technical Analysis – US 500 index surges to almost 2-year high

Posted on December 14, 2023 at 9:12 am GMT

US 500 index posts 5-day bullish rally Technical oscillators look overbought The US 500 index (cash) stormed higher after validating the previous high of 4,607. Although, the price jumped to its highest level since January 2022 at 4,728, extending the strong rebound off 4,100 that it has last October. Technically, the RSI climbed above the 70 level with strong momentum, and the MACD oscillator is crossing above its trigger line well above the zero level. Both indicate an overstretched market and a [..]

Market Comment – Fed awaited as stocks jump, dollar slips after US CPI

Posted on December 13, 2023 at 10:02 am GMT

Dollar pressured from in-line CPI report as stocks extend rally But Fed rate cut expectations pared back slightly ahead of new Fed dot plot Fed to kickstart central bank bonanza Markets upbeat after CPI report as all eyes turn to Fed The Federal Reserve will kick off the barrage of central meetings on Wednesday as policymakers set interest rates for the final time in 2023. The European Central Bank, Bank of England and Swiss National Bank will announce their decisions [..]

Market Comment – Euro slips as Eurozone inflation tumbles, aids dollar’s rebound

Posted on November 30, 2023 at 10:10 am GMT

Tumbling inflation erodes euro’s gains as dollar perks up despite rate cut bets Wall Street loses some steam but stocks still set for best month of the year Oil prices climb cautiously as OPEC+ output decision awaited Euro falls victim to rate cut frenzy The euro took a dive on Thursday, retreating from three-and-a-half month highs against the US dollar, as weaker-than-expected CPI numbers out of the Eurozone pressured the single currency. Inflation in the euro area plunged to 2.4% [..]

Market Comment – Oil steadier after nose-dive, dollar pulls back in thin trade

Posted on November 23, 2023 at 10:18 am GMT

Oil plunges on OPEC+ meeting delay, sparking rally in US dollar But dollar resumes decline today as rivals advance on easing gloom Stocks mostly positive in holiday-thin trade Oil prices whipsaw on OPEC+ speculation Markets were hit by some unforeseen turbulence on Wednesday as oil prices plummeted on OPEC’s announcement that Sunday’s meeting has been postponed to November 30. This month’s output decision was already building up to be a major one as the OPEC and non-OPEC alliance was expected [..]

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