S&P 500

Real-time Estimate Quote. Real-time Estimate  - 10/19 06:29:10 pm
3468.74PTS -0.43%

Initial decline of 0.5%

10/02/2019 | 07:55am
Opinion : Bearish under  2962
Target price :  2908
With fears about global growth, revived yesterday by the U.S. manufacturing ISM significantly below expectations (47.8 vs. 50.4 expected and 49.1 last month), the S&P500 index should follow in Europe's footsteps and open down by 0.5%.   The European indices are indeed gradually increasing their losses and this is 1.4% on average while the CAC40 lost 1.7%.
The S&P500 index finished down sharply by 1.23% to 2940 points yesterday. 

>Summer statistics, operators are waiting for the ADP survey at 14:15 which should report 140K job creation and then troll stocks at 16:30, expected at 2.0M. The highlight of the week will be Friday with the monthly U.S. Employment Report. 

> From a technical point of view, as last mentioned, the S& P500 reached yesterday a zone of fleshy support located around 2940 points, a level that should be buried at the opening. In the absence of a positive reaction in the first exchanges, we can expect a continuation of the current movement towards 2921/2908 points or even 2890 points by extension.

Laurent Polsinelli
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