All Articles Tagged - US500cash

Technical Analysis – US 500 cash index digests developments

Posted on October 9, 2023 at 12:41 pm GMT

The US 500 cash index jumped decisively higher on Friday The index bounced off the October 13, 2022 trendline The momentum indicators could be close to supporting a reversal The US 500 cash index is trading sideways today, a much quieter session amidst the Columbus Day holiday. Market participants have the chance to digest Friday’s performance, when the US 500 index managed to successfully bounce off the long-term October 13, 2022 ascending trendline, and developments elsewhere. The focus has understandably [..]

Will Q3 earnings season halt the retreat in stocks? – Stock Markets

Posted on October 6, 2023 at 7:40 am GMT

Earnings parade unofficially starts next week as stocks undergo a downside correction A 0.1% annual earnings drop projected for the S&P 500, forecasts revised higher Surging Treasury yields bite stocks, raging dollar an additional headwind US indices retreat as investors face ‘higher for longer’ reality In the third quarter, US stocks gave back some of their impressive 2023 gains as markets started bracing for a protracted period of high interest rates. As a result, US Treasury yields have been on the rise across the board, with [..]

Are stock markets still overvalued? – Special Report

Posted on October 5, 2023 at 9:29 am GMT

Stock markets have retreated lately, as bond yields stormed higher But equity valuations are still stretched and earnings growth is stagnant Sky-high yields and global slowdown could keep markets under pressure Stocks drop as yields soar The phenomenal rally on Wall Street lost some steam in the third quarter, mostly because of the seismic moves in bond markets. Yields on US government bonds have risen to their highest levels since the financial crisis, boosted by bets that interest rates will [..]

Market Comment – Yen surges after possible intervention

Posted on October 4, 2023 at 8:19 am GMT

Yen spikes after breaching the 150-per-dollar mark Markets suspect intervention, but officials do not confirm Dollar charges higher on more upbeat US data Wall Street and gold suffer as dollar and yields extend rally Yen surges, stoking intervention speculation The yen was the sole major currency to end Tuesday with gains against the US dollar, unexpectedly and instantly surging after dollar/yen breached the 150 level. That barrier was closely monitored by traders and considered as the line in the sand, [..]

Technical Analysis – US 500 cash index trades a tad above a 2-month low

Posted on October 2, 2023 at 7:46 am GMT

The US 500 cash index is moving sideways again today The index bounced off the October 13, 2022 trendline The momentum indicators could signal a reversal soon The US 500 cash index is trading sideways today, hovering around the busy 4,270-4,310 area. The current downleg stopped at the long-term October 13, 2022 upward sloping trendline, allowing the bulls to temporarily gain some breathing space. However, the current bearish series of lower lows and lower highs remains intact. In the meantime, [..]

Stocks tumble as VIX spikes to highest level since May – Stock Markets

Posted on September 28, 2023 at 11:41 am GMT

US equity indices retreat as investors face ‘higher for longer’ reality Wall Street’s fear gauge, VIX, posts a fresh 4-month peak Treasury yields surge to consecutive cycle highs, increasing appetite for bonds Bearish sentiment pervades Wall Street Equity markets have been under downside pressure lately as investors are bracing for a protracted period of high interest rates. On Tuesday, the US CB Consumer Confidence index slumped to a four-month low, reflecting rising fears over a deteriorating economic outlook and renewed inflationary [..]

Market Comment – Yen gets closer to 150-per-dollar level, oil skyrockets

Posted on September 28, 2023 at 8:06 am GMT

Dollar extends gains on ‘higher for longer’ narrative Dollar/yen nears 150 zone, risk of intervention rises Oil skyrockets as US inventories tumble Wall street closes mixed despite rally in yields Fed’s Kashkari reiterates hawkish view The US dollar continued marching north against all but one of the other major currencies on Wednesday, gaining the most against the euro and losing only versus the Canadian dollar, which may have received support from the surge in oil prices. The Fed’s ‘higher for [..]

Market Comment – Fed’s ‘higher for longer’ fuels dollar, yen flirts with intervention

Posted on September 27, 2023 at 7:58 am GMT

Dollar at 10-month highs, 10-yr yield jumps to new 16-year peak Dollar/yen extends uptrend, intervention risks grow Wall Street tumbles on a blend of investor concerns Dollar stands tall ahead of core PCE inflation The dollar traded higher against all the other major currencies on Tuesday and continued trading on the front foot today as well, with the dollar index hitting a fresh 10-month high. It seems that the Fed’s “higher for longer” mentality is still adding fuel to the [..]

Technical Analysis – US 500 index drops below 23.6% Fibonacci

Posted on September 25, 2023 at 1:36 pm GMT

US 500 index posts fresh 3-month low in today’s session Bears eye the ascending 200-day SMA Momentum indicators suggest that the recent decline could be overstretched The US 500 stock index (cash) has been experiencing a strong pullback following its rejection near the 50-day simple moving average (SMA) in mid-September. However, the aggressive selloff could be over soon as the momentum indicators are hinting at oversold conditions. If sellers push the price lower, initial support could be met at 4,178, which is the 38.2% Fibonacci retracement of [..]

Market Comment – Hawkish Fed boosts the dollar, BoE and BoJ next

Posted on September 21, 2023 at 9:07 am GMT

Fed revises rate path higher, lifting dollar and yields Stock markets and gold move lower in the aftermath BoE decision today a coin toss, BoJ unlikely to move Fed commits to higher for longer The Federal Reserve kept interest rates unchanged yesterday, as widely expected, but revised its economic forecasts and interest rate projections higher. Reflecting the recent flow of resilient US data releases, the Fed raised its economic growth estimates for 2023 and 2024, softly signaling that the risk [..]

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