S&P 500 : An increase of 0.9% in first exchanges
Check out the trading range breakout
2894 / 2944
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After ending down 0.69% to 2,906 points yesterday, following the surprise slowdown in US manufacturing activity, which heightens fears of recession, the S&P500 index should start the session up 0.9%.
Europe is now benefiting from a PMI services index in China that exceeds expectations (52.1 compared to 51.7 expected) and Hong Kong's withdrawal of the extradition bill that allowed the Hang Seng to rebound by 4% this morning.
On the statistical side, the US trade balance was -54.0B (consensus -54.2B). The Fed's Beige Book will be published at 8pm.
Graphically, the S&P500 remains locked within the 2894/2944 points range. We will continue to closely monitor the exit of this zone of indecision to act in either direction.
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