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S&P500 Forecast: SPX hits a record high after Nvidia earnings

S&P 500 rises to a fresh all time high after blowout Nvidia results. Nvidia posed a 265% rise in revenue and a 769% rise in net earnings sending the share price 13% higher. Note that profits are rising by more than the share price! The market is overlooking US jobless claims which fell to 201k, supporting the Fed's view that it is too early to cut rates.

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February 22, 2024 09:10 AM
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USD/JPY forecast: 151 seems plausible, 152 may be a stretch

USD/JPY is clinging to 150 despite the weaker US dollar on Tuesday, as there seems little reason for traders to bid the yen. And unless we receive a compelling reason to buy then yen via a surprisingly hawkish BOJ or broad risk-off environment, it becomes difficult to construct an overly bearish case for USD/JPY whilst the Fed remain quiet about rate cuts.

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US dollar, Nasdaq, S&P 500, gold analysis: Forward testing US CPI

Attention shifts the today’s US CPI report, which is arguably the biggest event of the week. So we crunch some numbers on the US dollar, S&P 500, Nasdaq and gold to see how they have performed around it.

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S&P 500 taps 5k record, ASX futures to extend bull-flag breakout?

The S&P 500 tapped 5k for the first time ever. But do traders have the appetite to extend its trend heading into the weekend? For now, our focus is on a bull flag pattern on the ASX 1-hour chart.

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February 8, 2024 05:16 PM
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S&P 500 hits record high, futures hint at break above 5,000

The S&P 500 reached a fresh record high and stopped just 5 points short of the 5,000 milestone thanks to strong earnings. But futures charts and market positioning suggest the S&P cash market could break higher.

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February 7, 2024 05:38 PM
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S&P500 Forecast: SPX rises after the Fed inspired selloff

US stocks are pointing to a positive open, recovering after a steep selloff yesterday when Fed Chair Powell pushed back on a March rate cut, saying that it was not his base case scenario. US jobless claims and Challenger cuts point to a slight weakening in the labour market ahead if tomorrow's non-farm payroll report. Big tech is in focus with Apple, Amazon and Meta due to report after the close.

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February 1, 2024 08:53 AM
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S&P500 Forecast :SPX flat ahead of a busy week

US stocks are pointing to a flat open as investors sit on the sidelines ahead of a busy week with US tech stock earnings and the Federal Reserve interest rate decision due on Wednesday. The Fed is expected to leave interest rates on hold in January and the market is looking for clues over when the Fed may start to cut rates. Microsoft and Alphabet report earnings tomorrow after the close.

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January 29, 2024 09:13 AM
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S&P500 Forecast :SPX struggles after personal spending jumps

US stocks are pointing to a nixed open after US core PCE eased to 2.9% YoY in December, but personal spending jumped 0.7%, supporting the view that the US is heading for a soft landing, but the Fed may not need to cut interest rates soon. Intel is set to fall on the open after disappointing Q1 guidance.

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January 26, 2024 09:14 AM
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S&P 500 analysis: Stock markets starting to look a little overstretched – correction looming?

The key question today is whether we are near at least a temporary peak in the ongoing phase of the rally, or if we persist in moving forward despite apprehensions about valuations, the developments in the Red Sea, and the postponement of interest rate cuts.

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January 25, 2024 10:24 AM
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S&P500 Forecast: SPX hits fresh record highs as Netflix soars

US futures rise to record highs, boosted by tech stock earnings optimism and hopes that he US economy will achieve a soft landing. Netflix is set to open almost 10% higher after strong subscriber numbers and a Q4 earnings beat. US PMI data is due shortly and could support the soft landing narrative. Watch for Tesla earnings after the close.

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January 24, 2024 08:41 AM
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S&P 500, Nasdaq 100 and Dow Jones leave dubious candles at record highs

Whilst Wall Street indices notched up a fresh record high on Monday, price action across the major indices war of trend exhaustion.

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S&P500 Forecast : SPX rises ahead of key data and earnings this week

US stocks are pointing to a higher open after reaching record levels last week. Optimism surrounding rate cuts drove stocks higher at the end of last year, and all three US indices are trading higher so far in 2024 despite a wobbly start. Attention this week will be on US Q4 GDP and core PCE, as well as earnings from the likes of Tesla and Netflix.

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January 22, 2024 09:04 AM
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SP500 Forecast: SPX rises with tech stocks leading the way

US stocks point to a higher open after gains in the previous session. Tech and chips stocks are once again in favour, lifting the indices higher, despite Fed officials playing down the need for early rate cuts.

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January 19, 2024 09:33 AM
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S&P 500 Forecast: SPX falls after retail sales cast doubts over early Fed rate cuts

US stocks are pointed to a weaker start after stronger-than-expected retail sales, and Fed speakers cast doubts over early Fed rate cuts. Retail sales rose by more than forecast, highlighting the resilience of the consumer despite interest rates at a 22-year high. Meanwhile, oil prices are tumbling after weaker-than-expected growth in China raises concerns over the oil demand outlook.

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January 17, 2024 09:11 AM
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S&P 500 outlook: Technical Tuesday – January 16, 2024

S&P 500 outlook: Hawkish repricing of rate cuts could undermine overstretched equities. Fed Governor Chris Waller says 3 rate cuts appropriate (not 6 the markets are after) which is potentially bearish news. S&P 500 technical analysis suggests index is near extremely over stretched levels.

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January 16, 2024 12:30 PM
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S&P 500 Forecast: SPX mulls over disappointing bank earnings, PPI data

US stocks are pointing to a mixed start as the market weighs up a weak start to Q4 earnings season and cooler-than-expected PPI inflation data. The likes of Citigroup, Bank of America, and Wells Fargo point to a lower start after earnings, while JP Morgan bucks the trend and is set to rise after a record full-year profit. US PPI rose by less than expected after yesterday's hotter-than-expected CPI print.

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January 12, 2024 09:26 AM

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S&P500 Forecast: SPX steady, Boeing tumbles

US stocks point to a mixed, muted start as investors brace themselves for US inflation data later in the week. The figures come after a mixed NFP report on Friday and after the market reined in aggressive Fed rate cut bets last week. Boeing is set to open lower after a mid-air incident which resulted in the FAA grounding 170 planes.

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January 8, 2024 09:11 AM
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S&P500 Forecast: SPX recovers from initial losses after hot NFP report

US stocks are rising, recovering from initial losses after a hotter-than-expected NFP. 216K jobs were added in December, after a downwardly revised 173k in November. Average earnings rose to 4.1%.

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January 5, 2024 10:01 AM
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S&P500 Forecast: SPX holds steady after jobs data Apple falls further

US stocks point to a mixed open after ADP payrolls and jobless claims come in ahead of forecasts. Meanwhile, the Fed minutes gave no further clues on when the first Fed rate cut may be. Apple is set to fall further after a second broker downgrade in as many days amid concerns over iPhone demand.

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January 4, 2024 09:35 AM
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S&P500 Forecast: SPX falls as the Fed rally runs out of steam

US stocks are easing lower after the Nasdaq & Dow reached record highs and the S&P500 comes close. Fed policymakers continue to play down rate-cut bets, but the market has broadly ignored these warnings. Elsewhere, FedEx, the bellwether, cut revenue guidance and is set to fall 10% on the open. Oil rises for a third day amid ongoing concerns in the Red Sea.

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December 20, 2023 09:39 AM
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S&P 500 Forecast: SPX grinds higher after last week's gains

US stocks are heading for a modestly higher open, extending gains from last week. A more dovish than expected Fed and optimism of a soft landing drove indices higher. This week things are starting to ease ahead of the Christmas holiday. However, there are still several major data points, including core PCE, Q3 GDP (final revision), and jobless claims figures.

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December 18, 2023 09:27 AM
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S&P 500 Analysis: Winning Streak Stretches to 7 Weeks – Why that Could Be a Bullish Sign

Historical 7+ week winning streaks in the index have been a generally bullish development for returns over the next month, quarter, and year.