S&P 500 : Initial increase of 0.4%
By Laurent Polsinelli
Check out the trading range breakout 2960 / 3000 |
The unemployment rate had remained unchanged at 3.7% with an hourly wage that rose by 0.4% (0.3% expected) but job creation was below expectations at 130k (163k anticipated) and the figures for the previous two months were revised downwards.
The S&P500 index should nevertheless open up by 0.4% today, with the optimism remaining ahead of the ECB's announcements next Thursday, with the upcoming resumption of negotiations between Beijing and Washington also remaining a supporting factor.
On the macroeconomic level, only consumer credit will be revealed at 9pm. It will be necessary to wait until Wednesday for the first important statistics, with the PPI index, wholesalers' stocks and oil stocks.
From a technical point of view, the S&P500 is back to less than 2% of its absolute record. In hourly data, the trend therefore remains bullish above the 2960 points, the upper bound of a gap left open last week. Only the lowering of this level would militate for some profit taking towards 2940 points at first or even 2910 points per extension.
Otherwise, the 3000 points will remain in sight, the last bastion with 3028 points (absolute record in session)