SPX500 Cautious Ahead of US NFPs, as a Volatile Week Draws to a Close
The US index is soft after yesterday’s rebound and gears up for the jobs report, at the end of a volatile and holiday-shortened week
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The US index is soft after yesterday’s rebound and gears up for the jobs report, at the end of a volatile and holiday-shortened week
US30 shows indecision ahead of open.
The US index is weighed by hawkish Fed-talk, as US investors return from their long weekend, after a stellar week
The US 10-year Treasury note has broken out of a falling wedge pattern following hawkish comments by Fed Governor Waller.
The week of May 23-27 was a good one for Wall Street, as SPX500 looks set to stop its seven-week losing. Nvidia’s record revenues and cautious guidance, Alibaba’s resilience and XPeng’s mixed results were some of the news that stood out
Apple looks to be trading at a discount to its intrinsic value. Nevertheless, caution is still warranted.
The US30 is up in pre-cash open trade after the Fed's minutes confirmed 50bps hikes for June and July. I.e. there has been no increased hawkishness than previously communicated.
Snap issued a profit warning on Tuesday, causing its stock to plunge and weighed on other tech stocks and the NAS100, amidst an unfavorable environment for the tech sector
US30 hourly chart is at key overhead resistance.
During the week of May 16-20 Twitter remained in the spotlight, Wall Street languished as poor results from major retailers reignited fears of stagflation, China’s Xiaomi saw a revenue drop, while more news were in the spotlight
US30 looks to be charting the next lower peak in its H4 chart.
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