US500

It’s been a fast-evolving market since the Presidential election three weeks ago. But stocks remain higher, Bitcoin has put in a major move and gold is on its back foot.

Dell & HP Inc. Q3 2024 Earnings Preview: Growth vs. Challenges Dell Technologies (DELL) and HP Inc. (HPQ) are set to release their Q3 2024 earnings aftermarket today. Both companies show growth potential but face unique challenges amid PC market headwinds.

SPX has a sizable gap sitting below current price action and the top of that zone came into play for four consecutive days, while remaining well defended by bulls ahead of this week’s test of 6k.

S&P 500 futures pulled back again last week and as yields have continued their run-higher, there’s more potential for greater pullbacks ahead. Both the election and FOMC can bring impact on both fronts.

The S&P 500 has shown resilience, with US stocks rebounding on the back of strong earnings reports today. Positive surprises from major companies, such as Tesla, and strong performances in Europe are helping to stabilise sentiment.

In the last week or so, the S&P 500 hasn’t gone anywhere, trading inside a tight range – albeit near its recently-hit all-time high. So far it has been a week void of any major economic data. So, you can understand why the market has been a bit cagey this week. But investors are also wary of at least two major risk events, which could dent the S&P 500 forecast

Stocks haven’t shown much for pullbacks of late, but S&P 500 Futures have struggled so far to gain acceptance through the 5900 level.

S&P 500 futures have shown little interest in the major repricing of Federal Reserve rate cut expectations caused by Friday’s blowout non-farm payrolls report for September, raising the question whether Thursday’s US consumer price inflation (CPI) report is as big a risk event as some make it out to be.

It’s been an amazing rally since last Q4’s open and now that the Fed is finally able to cut rates, stocks have started to stall.

A lot of traders in Asia must have wondered whether they were still dreaming when they woke up and saw the huge gains on the S&P 500 and Nasdaq 100 on Wednesday, reversing a big opening plunge sparked by the hotter-than-expected US CPI report for August. Rather than fundamentals, technicals look like they sparked the move.

Investors are cautious due to weakening US employment and geopolitical risks, such as US elections and potentially more US-China trade tensions. For now, though, the current state of the charts suggests the S&P 500 forecast remains mildly positive, but will that change as we head deeper into September?