Arab Today, arab today investors remain focused on us interest rate move
Last Updated : GMT 20:18:19
Arab Today, arab today
Arab Today, arab today

Investors remain focused on US interest rate move

Arab Today, arab today

Arab Today, arab today Investors remain focused on US interest rate move

Investors remain focused on US interest rate move
New York - Arab Today

With the S&P 500 again coming close to a record this week before falling back, investors will turn this week to a full slate of economic data and a Federal Reserve meeting in hope of fresh reasons whether to drive stocks to new highs.
The benchmark large-cap index flirted with the current record when a rally to start the week brought it to its highest in about 11 months. But the run fizzled on Thursday and Friday, making it the latest time the index has climbed above 2,100 before falling back from the May 21, 2015 closing record of 2,130.82.
“Equities are having a difficult time finding a rationale to punch through to a new high,” said Peter Kenny, senior market strategist at Global Markets Advisory Group in Berkeley Heights, New Jersey.
This week brings the release of important US economic data, including retail sales and inflation.
“We need to see something consistently good or bad to move the markets in a direction,” said Peter Costa, president of Empire Executions. “Right now we haven’t got that.”
With the S&P 500 closing south of 2,100 this week after touching 2,120 earlier, Katie Stockton, chief technical strategist at BTIG in New York, sees the move as a failed attempt of a breakout that is setting the index for further declines.
“Tested twice, three times, makes it more obvious to be a strong resistance level,” Stockton said. “There’s pent-up selling pressure there.”
After a poor start to the year, the S&P 500 has rallied more than 15 percent since mid February, helped by a rebound in oil prices to over $50 a barrel.
On Friday, the S&P ended within about 35 points of the record. But even if the index eclipses the record next week, not everyone is viewing it as an indication that stocks are poised to then shoot higher.
“It’s a reassuring sign, but not a bullish green flag that means we’re going on to major gains in the short term,” said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.
Investors remain sharply focused on when the Fed will next raise interest rates, although they are discounting any chance that the US central bank will act this week.
According to the CME Fedwatch website, traders see only a 2 percent likelihood the Fed will raise rates on Wednesday, and 21 percent chance it will do so at its July meeting. Expectations fell significantly after a dismal employment report earlier this month set off fresh concerns about the economy’s strength.
Retail sales “will give us a little bit more insight into just how much consumers are pulling back, if they are, or whether that employment number was more an aberration in the trend and we still have pretty solid results to keep us moving forward,” McCain said.
Britain’s referendum on whether to stay in the European Union could increasingly fray investor nerves as the June 23 vote nears.
The Brexit vote, along with renewed growth concerns for the United States and China, are “throwing a wet blanket on optimism,” according to Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co. in Florham Park, New Jersey. “We are recommending investors be underweight equity risk at this point,” Morganlander said.

Source: Arab News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today investors remain focused on us interest rate move Arab Today, arab today investors remain focused on us interest rate move

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Tabarka beauty between sea, mountain

GMT 06:37 2017 Wednesday ,01 March

Tabarka beauty between sea, mountain
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Russia, China veto UN resolution

GMT 07:27 2017 Wednesday ,01 March

Russia, China veto UN resolution
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems

GMT 13:19 2017 Wednesday ,01 March

Why King Salman’s Asia tour is so significant

GMT 09:24 2017 Wednesday ,01 March

Trump plans $54bn increase in US defence spending

GMT 07:23 2017 Wednesday ,01 March

China shuts down $7.3bn illegal forex operation

GMT 06:46 2017 Wednesday ,01 March

OECD: India needs more inclusive growth

GMT 06:39 2017 Wednesday ,01 March

US core capital goods orders fall

GMT 06:32 2017 Wednesday ,01 March

Mexico: US tariffs would kill NAFTA talks
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday