“The S&P 500 has tended to underperform in the next week with positive returns less than half of the time,” writes the folks at Bespoke Investment Group. The Dow Jones closed +90.55, or +0.31% at 29,030.22. View the full Dow Jones Industrial Average (DJIA) index overview including the latest stock market news, data and trading information. The S&P 500 index doesn’t show any significant change in bull strength yesterday. Germany is likely not to act alone but will use the EU to maximize the blow, and as a result, tensions may escalate between the transatlantic allies. © 2020 TheStreet, Inc. All rights reserved. Sitemap I cover commodities, FX, equities in developing & emerging markets. Even if performance has not blown the doors off, the S&P 500 has more often found itself higher rather than lower one year later as well.”. More recently, during the Brexit referendum, I predicted the crash in sterling against the dollar to a level of 1.18 in an interview with MarketWatch. Dow Jones futures trade modestly lower. I have worked with Bank of America in equity trading and with Bank of New York in hedge fund trading, I have. Near term I show a January value level at 27,579 with a weekly risky level at 28,990 through Jan. 3. Can anything stop the rally? The US durable orders number have made them more optimistic about the future of the economy as they know that orders are there, and it is up to consumers and workers to start supporting the economic activity. Yes! A fundamental market shift Part of … This site uses Akismet to reduce spam. The S&P 500 index found its strength near the 50-day moving average on a daily time frame, and as long as the S&P 500 futures price stays above this average, we have strong chances for the coronavirus stock market rally to continue its upward journey. The S&P 500 and Nasdaq Composite have been hitting new highs for days now. All Rights Reserved, This is a BETA experience. Arrives: Daily, Monday thru Friday covering all topics. New weekly levels are calculated after the end of each week. The blue-chip index has been making a steady recovery since the COVID-19 pandemic sent it plummeting 10,000 points in March. It's About Time. Action Alerts PLUS is a registered trademark of TheStreet, Inc. You may opt-out by. The Dow Jones index made a remarkable comeback yesterday. The S&P 500 futures, along with Dow Jones futures, are likely to remain sensitive to the lack of a clean re-opening of the US economy, and this particular event is going to adversely influence the recovery efforts. The Dow gained 275.08 points, or 0.9%, to 29,551.42, while the S&P 500 rose 0.6% to 3379.45, and the Nasdaq Composite advanced 0.9% to 9725.96. Semiannual levels are updated at mid-year. President Trump’s recent threat of new tariffs on the EU has triggered a more favorable response from Europe.

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