. U.S Stocks Edge Higher, After Indices rebound - Capital Street FX

U.S Stocks Edge Higher, After Indices rebound – Capital Street FX

U.S Stocks Edge Higher, After Indices rebound – Capital Street FX

20 Feb 2023

S&P 500 rose 0.34% to 3,946.0 on Monday

On Thursday market session participants will be looking ahead to retail sales, fresh jobless claims, and import price data

US stocks futures rise during Wednesday evening deals, US major indices bouncing back on that day after an inflation report published by Federal Reserve

Stocks fell straight on Wednesday, investors are afraid of this move, and on the last day of August market come back in doubt as investors weighed the inflation-fighting efforts.

The Dow Jones Industrial Average was up by about 0.2% to 31,510.43. S&P 500 was roughly gained by 0.2% at the end of the day price was 3,946.00. Nasdaq 11 futures rose 0.4% at 11,816.20

The three major weaker note seems at the end of the month which began as a strong month i.e., Donjons AUGUST was down           4.1% and the S&P 500, and Nasdaq posted losses of nearly 4.2% and 4.6%, respectively, the 52 weeks range is 3,636.87-4,818.62

The Nasdaq100 is now 11.8% above its low level. On 16 Aug the summer, the rally came back a full two months after the mid-June bottom, On the bond market, the US 10-year yield changed by 3.404%.

The debate had been going on investors for weeks about whether the economy is in a recession or in not recession. Many investors thought an economic downturn would give the federal reserve reason to raise their hiking plan.

On Friday Fed chairman Jerome Powell reiterated in his Jackson Hole speech, According to Brad McMillan market was counting on the limited rate increase and rapid rate decrease.


s&p 500

This daily chart indicates that S&P 500 was trading in a downward channel, Currently, it is trading below all SMA, and RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness, S&P500 was changed in a down channel before there is a breakout.