Significantly higher before the resumption of Sino-American talks
Opinion : Check out the trading range breakout 2855 / 2960
After finishing down sharply by 1.56% to 2893 points yesterday, amid uncertainty about future Sino-American trade negotiations, the S&P500 index should follow Europe's lead and open up by 0.8%. The risk appetite is resurfacing as China would be willing to enter into a partial agreement and increase its annual purchases of American soybeans to 30 million tonnes (currently 20 million tonnes).From a statistical point of view, wholesale trade stocks will be revealed at 10am and oil stocks at 10:30am (consensus 1.8M). Jerome Powell will still speak at 5pm, before the Fed minutes at 2pm. In hourly data, the S&P500 index shows volatility, oscillating within the trading range 2855/2960 points. Only the exit from this zone of indecision will allow us to regain a strong dynamic.