- S&P 500 closes at 4217.04, down 0.17%, while Dow Jones loses 0.58%, and Nasdaq gains 0.27%.
- US 10-year benchmark note ends below 5%, contributing to the Greenback's weakening.
- Upcoming economic data includes US New Home Sales, Q3 GDP, and the core PCE, with Federal Reserve officials adopting a more neutral stance on monetary policy.
Wall Street finished the session with losses except for the heavy-tech Nasdaq Composite, which clung to earlier gains. Even though US Treasury bond yields eased since the mid-North American session, a late dip in the S&P 500 and the Dow Jones help sellers to remain in charge
S&P 500 closes down 0.17%, with Communication Services, Technology, and Consumer Discretionary sectors leading gains
On Monday, the S&P 500 closed at 4217.04, down 0.17%, while the Dow Jones Industrial Average hit 32936.41, lost 0.58%. the Nasdaq Composite stood at 13018.33 and printed gains of 0.27%, while the US 10-year benchmark note ended below 5% after reaching that level in the overnight session, though weighed on the Greenback.
Sector-wise, the main gainers were Communication Services, Technology, and Consumer Discretionary, each at 0.72%, 0.42% and 0.21%, respectively. The laggards were Energy, Materials, and Real Estate, down by 1.62%, 1.07%, and 0.84%, respectively.
The US economic docket featured the Chicago Fed National Activity Index, for it was below forecasts of 0.05 at 0.02 but exceeded last month’s slump to -0.22. Ahead of the week, the calendar would feature US New Home Sales, the Gross Domestic Product (GDP) for Q3 on its preliminary reading and the US Federal Reserve’s preferred gauge for inflation, the core PCE.
In the last week, Federal Reserve officials adopted a more neutral stance regarding monetary policy. Despite mentioning that inflation remains too high, they acknowledged that prices are easing, though highlighted the labor market remains tight and below-trend growth is needed to achieve the US central bank's 2% target on inflation.
S&P 500 Daily Chart
S&P 500 Technical Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Next upside target comes at 0.6550
AUD/USD managed well to shrug off the marked advance in the Greenback as well as geopolitical tensions, regaining the area above the 0.6500 hurdle ahead of preliminary PMIs in Australia.
EUR/USD: Further losses now look at 1.0450
Further strength in the US Dollar kept the price action in the risk-associated assets depressed, sending EUR/USD back to the 1.0460 region for the first time since early October 2023 prior to key releases in the real economy.
Gold faces extra upside near term
Gold extends its bullish momentum further above $2,660 on Thursday. XAU/USD rises for the fourth straight day, sponsored by geopolitical risks stemming from the worsening Russia-Ukraine war. Markets await comments from Fed policymakers.
Ethereum Price Forecast: ETH open interest surge to all-time high after recent price rally
Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday. This price surge is attributed to strong bullish sentiment among derivatives traders, driving its open interest above $20 billion for the first time.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.