empty
 
 
19.08.2022 01:24 PM
The American premarket on August 19: the American stock market fell down

Futures on US stock indices fell in morning trading on Friday after another indistinct session, where bulls tried their best to prove their presence in the market. The fall is also observed in Treasury bonds, even though representatives of the Federal Reserve system chorused their determination to continue raising rates, only hinted that they would do it less aggressively. S&P 500 futures fell 0.8%. Tech stocks were the weakest link, with Nasdaq 100 futures down 0.9%. The yield on two-year Treasury bonds rose by five basis points.

This image is no longer relevant

As noted above, two voting members of the Federal Open Market Committee – James Bullard of St. Louis and Esther George of Kansas City – stressed that the US Central Bank would continue to raise interest rates until inflation returns to the 2% target. However, their opinions differed on the aggressiveness of raising interest rates at a meeting in September. However, the tone of the statements dispelled expectations that a series of weak economic data would push the Fed to a dovish turn of future policy.

Now it is quite obvious that the Fed is following the path of its main goal – reducing inflation, even if by risking a collapse of the economy.

Non-voting officials also confirmed the Fed's hawkish stance: Mary Daly from San Francisco said she would not rush to change course next year, completely refuting expectations of policy easing in mid-2023. Neel Kashkari from Minneapolis said that you first must cope with inflation before making plans to ease policy.

At the moment, interest rate futures have shifted towards a tougher policy change in September: with a 40 percent probability, the Fed will raise rates by 75 basis points.

It's also worth saying that investors are focused on the Fed's annual symposium in Jackson Hole, which will take place next week. It will provide additional information about the direction of the policy. Recent data indicating a slowdown in activity highlighted the growing impact of rate hikes on the US economy, which led to the observed pressure on stock indexes. Economists see a 50 percent chance of a recession in the United States.

This image is no longer relevant

Premarket

Bed Bath & Beyond shares fell to $10.75 in premarket trading compared with Thursday's close at $18.55 after Ryan Cohen sold his entire stake.

Cryptocurrency-related stocks also sank significantly. The fall in the cryptocurrency ranks pulled down Coinbase Global Inc., Marathon Digital Holdings, and Riot Blockchain Inc securities.

As for the technical picture of the S&P500

The nearest support of $4,255 has failed, and only the intermediate level of $4,229 is ahead of the sellers. Its breakdown will open a direct road to the areas of $4,208 and $4,184, which will mean a fairly significant correction. It will be possible to talk about a new index growth only after controlling the resistance of $ 4,255, which will open the way to $ 4,290. It is the only way we will see fairly active growth in the areas of $4,319 and $4,376, where large sellers will return to the market again. At least there will be those who want to fix profits on long positions. A more distant target will be the $4,433 level.

Jakub Novak,
Chuyên gia phân tích của InstaForex
© 2007-2024
Kiếm lợi nhuận từ những biến đổi giá của tiền điện tử với InstaForex.
Tải MetaTrader 4 và mở giao dịch đầu tiên của bạn.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $1000 nhiều hơn!
    Trong Tháng 4 chúng tôi xổ $1000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Các bài báo được đề xuất

Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.
Widget callback