S&P 500

SP500
Delayed Quote. Delayed  - 09/29 05:06:57 pm
3335.47PTS -0.48%

Significantly higher before the resumption of Sino-American talks

10/09/2019 | 08:14am
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 appetite for risk resurfaces when China would be ready for a partial agreement and increase its annual purchases of American soybeans to 30 million tonnes (currently 20 million tonnes).

Summary statistics will reveal wholesale trade stocks at 4pm and oil stocks at 4:30pm (1.8M consensus).
Jerome Powell will still speak at 5pm, before the Fed minutes at 8pm.

 


In hourly data, the S&P500 index shows volatility, oscillating within the trading range 2855/2960 points. Only the exit of this zone of indecision will allow us to resume a strong dynamic.


Laurent Polsinelli
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