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S&P 500 analysis: Top 4 oversold stocks to watch
The S&P 500 is lingering at 4-month lows and is the most oversold it has been in over a year. We look at some of the most oversold stocks to watch.
US Dollar Price Action: EUR/USD, USD/JPY, SPX, Gold
It’s a market of extremes with the US Dollar pushing for its 12th consecutive weekly gain and the S&P 500 testing below a key spot of confluent support.
S&P500 Forecast: Stocks drop as treasury yields surge
US stocks are heading lower as US treasury yields surge to a 16 year high. Better than expected data yesterday and hawkish Fed comments ,reiterating higher rates for longer have spurred the latest surge in yields. Attention now turns to US JOLTS job openings data which will shed more light on the health of the US labour market ahead of Frida's non-farm payroll data.
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S&P 500 outlook: Stocks continue to struggle as Q4 gets underway
The bond market sell-off has resumed, further supporting the dollar and undermining equities. In other words, nothing has changed since last week. Sentiment remains cagey with investors showing no desire to hold onto any gains.
US Dollar, FX Majors, Rates and SPX into Q4
FX volatility woke up in a big way in Q3 and with the US Dollar holding a strong bullish trend the door is open for more in Q4.
S&P500 Forecast: Stocks rise after PCE data
US stocks are heading higher after US core PCE, the Fed's preferred gauge for inflation cooled to 3.9% from 4.2%. Meanwhile headline PCE ticked higher showing that inflationary rises are rising modestly. US stocks have fallen across the month, booking the worst monthly performance so far this year and the first quarterly decline in 2023 amid concerns that the Fed will keep interest rates higher for longer.
S&P 500 Analysis: Stocks buoyed by soft data
After heavy selling pressure comes a big bounce. Ironically, today’s bounce in stocks appears to be triggered by softer-than-expected US data. The rationale is that weaker data will discourage the Fed from tightening its belt further, and simultaneously increases the chances of a sooner-than-expected rate cuts.
S&P500 Forecast: Stocks recover as treasury yields ease, Senate deal optimism
US stocks are set to open higher after steep losses yesterday. Easing treasury yields and optimism surrounding a bipartisan deal in the Senate which could could the Federal government funded until mid-November. US durable goods orders are due shortly. September has been a brutal month for stocks, which are set to book the first quarterly decline this year.
GBP/USD, USD/JPY, AUD/USD, Gold, Oil, S&P 500 Weekly Technical Outlook
Sr. Technical Strategist Michael Boutros highlights the targets & invalidation levels that matter on the technical charts into the close of the month / quarter.
S&P 500 analysis: Stock market correction may have long way to go
US stocks sold off sharply ever since the Fed delivered that hawkish interest rate pause on Wednesday. At the time of writing, the major indices were still testing their lows after futures had slid along with global markets, extending losses from the previous session. The market is falling because of fears over the impact of rising bond yields. The sell-off may need to extend further before investors find value in stocks, especially in growth equities.
USD/JPY hits a fresh 9-month high ahead of Friday’s BOJ meeting
The Fed delivered their hawkish hold, sending the US-JP 2-year yield differential to fresh cycle highs ahead of tomorrow’s BOJ meeting. And whilst the risk of verbal intervention remains from the MOF/BOJ, they may not actually intervene if the trend remains orderly. And price action on the USD/JPY daily chart suggests that it is.
FOMC, USD Majors, Gold, Oil, S&P 500, Nasdaq Weekly Technical Outlook
Sr. Technical Strategist Michael Boutros highlights setups he's tracking this week. The targets & invalidation levels that matter on the technical charts into the FOMC.
S&P 500 Forecast: Stocks edge higher ahead of US data drop, Arm IPO
Stocks are edging higher as investors await another round of data which could provide further insight into the direction of inflation and the health of the US economy. PPI, retail sales and jobless claims figures come after US CPI inflation data yesterday painted a mixed picture. Arm will also be under the spot-light as the UK chip maker floats on the Nasdaq exchange at $51 per share.
S&P 500 Forecast: Stocks hold steady as oil prices lift inflation
US stocks are heading for a flat start after US headline inflation rose but core inflation cooled. CPI rose 3.7% YoY, ahead of forecasts and up from 3.2% in July. Core inflation cooled to 4.3%. The data comes as oil prices continue to rise, keeping prices at the pumps elevated, pushing inflation higher. The Fed is not expected to raise rates next week, but this data keeps a November rate hike on the table.
S&P500 Forecast :Stocks subdued on higher rates for longer concerns
Stocks are set for a subdued open after a challenging week as a series of upbeat data raised expectations that the Fed may need to keep rates higher for longer. USD is set to book an 8th straight weekly rise, its longest weekly winning run in 9 years.
S&P 500 analysis: US stocks wobble amid tech sell-off
Technology stocks were leading the sell-off on Wall Street shortly after the open, following a very weak handover from China overnight and lackluster trade during the European hours. Apple shares we leading the falls in the sector with a loss of more than 3% on the session, falling sharply for the second day, amid concerns that China will broaden its iPhone ban.
S&P500 Forecast: Stocks slip on inflation worries ahead of ISM services PMI
US stocks are heading lower, extending yesterday's losses. Rising oil prices fuel inflation fears and US ISM services PMI is due.
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S&P500 Forecast: Stocks rise despite inflation & spending rising
US stocks are pointing to a higher start as investors digest the latest core PCE and personal spending figures.
S&P500 Forecast : Stocks slip ahead of data drop
US stocks are set to open lower as investors look ahead to a US data drop. JOLTS job openings and US consumer confidence will be in focus as well as pharmaceutical firms as Biden's administration announces 10 drugs to face Medicare price negotiations.
S&P 500 Short-term Price Outlook: Gap Trap
The S&P 500 gapped into the open with the bears pouncing on the move. Battle-lines drawn heading into Jackson Hole. Levels that matter on the SPX500 technical charts.
US Dollar Price Action Webinar: EUR/USD, Gold, USD/JPY, USD/CAD, SPX
The US Dollar has been holding on to a strong bullish move and this week’s big event is the speech from FOMC Chair Jerome Powell on Friday morning. US rates are continuing to run as worries build around China and yield curve normalization may not be a bullish factor for stocks as we’ve seen so far in August.
S&P500 Forecast: Stocks rise as Jackson Hole comes into focus
US stocks are heading higher after losses last week and as the annual Jackson Hole Symposium comes into focus. Investors have brushed off last week's concerns over China's sluggish economic growth and the possibility of the Fed hiking rates higher and for longer, at least for now. Earnings from Zoom later today and Nvidia mid-week will also be under the spotlight.
Can the S&P 500 move lower coax bears from the sideline?
The S&P 500 is on track for its third consecutive week lower. And that leaves us to wonder if some of the bears that were squeezed out over the rally over the past couple of months are now set to return to the market.