S&P 500 : In a waiting situation before the Fed
Check out the trading range breakout
3022 / 3050
|
Against a backdrop of optimism about Sino-American trade negotiations, when an agreement could be signed earlier than expected, the S&P500 index set a new absolute record yesterday and closed up by 0.56% to 3039 points. The latter should follow Europe's lead and open slightly lower by 0.1% today, pending the Fed's decision on rates tomorrow and the first US growth estimate for Q3 (consensus 1.6%).
>In terms of statistics, the Case Shiller index rose by 2% (consensus 2.1%). Operators expect at 3pm, the Conference Board index, anticipated at 128.2 as well as housing sales promises (consensus 0.9%).
>Graphically, the dynamic remains positive above 3022 points, level corresponding to the moving average at 8pm. As long as this threshold is maintained, the 3050 points will remain in focus.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.