empty
01.09.2023 02:05 PM
US premarket on September 1: US stock market prepares for key data

Futures on US stock indices show gains. S&P 500 futures gained 0.2%, while the high-tech NASDAQ added 0.3%. However, most traders have adopted a wait-and-see stance ahead of crucial employment data in the US. Treasury bond yields remain unchanged, as does the US dollar exchange rate.

This image is no longer relevant

The largest energy companies are leading the growth in the Stoxx Europe 600 index, as oil shows its highest weekly increase since April of this year. Shares of mining companies have surged due to China's stimulus measures driving up prices of certain industrial metals.

China's new efforts to rescue its weak economy have propelled the MSCI Asia Pacific Index for the second consecutive week. This marks the longest winning streak since mid-June. It is been revealed that the government has allowed major cities in the country to reduce housing payments for new buyers and has urged creditors to pay serious attention to the existing conditions for mortgage loans, which are quite stringent.

The yuan has also strengthened after China's central bank lowered the required currency reserve ratio for financial institutions in an attempt to support the currency. Sentiments have also been boosted by an unexpected growth in manufacturing data. The manufacturing PMI rose to 51 points in August, the highest reading since February.

Today's employment report could be further evidence of a slight cooling of the US economy, a goal pursued by the Federal Reserve as it battles high inflation. The question is whether this will be enough to halt the Federal Reserve's tightening cycle, or if by mid-autumn of this year, the rate hikes will continue. According to economists at Morgan Stanley, a rapid economic slowdown is likely to push the Federal Reserve toward a pause at this month's meeting without further rate increases. A labor market situation that's more severe than expected will only add fuel to the fire, leading to either continued or sustained inflation at rather high levels. Slower job growth will be welcomed and will indicate the impact of tighter monetary policy.

At the upcoming meeting, interest rates may remain unchanged at the current level, but employment data might introduce adjustments.

As for the S&P 500, demand for the index persists, but upward potential is constrained by crucial fundamental statistics. Bulls now need to take control at $4,515. Only from this level, they can push the price upward to $4,539. Bulls should also take control of $4,557, which will strengthen the bull market. In the event of a downward move due to reduced risk appetite, bulls will have to protect $4,488. Breaking through this level, the trading instrument may return to $4,469 and $4,447.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Stock Market on March 14th: S&P 500 and NASDAQ Indexes Continue to Decline

Futures on the S&P 500 and NASDAQ stock indices continued their significant decline, returning to a bearish scenario.Asian stocks, along with futures on U.S. and European stock indices, rose during

Jakub Novak 13:01 2025-03-14 UTC+2

Donald Trump Is Just Getting Started

The 24-hour chart wave structure for #SPX appears relatively clear. The first key observation is the global five-wave structure, which is so extensive that it doesn't even fit into

Chin Zhao 12:04 2025-03-14 UTC+2

US stock market: NASDAQ and SP500 going through correction, 10% down from their historic highs

S&P500 Markt update on March 14 Snapshot of benchmark US stock indices on Thursday: Dow -1.3%, NASDAQ -2%, S&P 500 -1.4%, S&P 500 at 5,521, range 5,400 - 6,000

Jozef Kovach 10:53 2025-03-14 UTC+2

S&P 500 Forecast for March 14, 2025

Yesterday, the S&P 500 index reached its target support level of 5516, which corresponds to the peak observed on June 20, 2024. This level also aligns with the 23.6% Fibonacci

Laurie Bailey 03:53 2025-03-14 UTC+2

US stock market groping for support

S&P500 Market update on 13.03 Snapshot of benchmark US stock indices on Wednesday: Dow -0.2%, NASDAQ +1.2%, S&P 500 +0.5%, S&P 500 at 5,599, range 5,400 – 6,000 The S&P

Jozef Kovach 10:17 2025-03-13 UTC+2

Stock Market on March 13: SP500 and NASDAQ Gains Were Short-Lived

Futures for the S&P 500 and NASDAQ indices declined again following yesterday's unexpected U.S. inflation data, which revealed a slowdown in price pressures that contradicted economists' forecasts. Asian stocks also

Jakub Novak 08:28 2025-03-13 UTC+2

US market experiencing strong correction

S&P 500 Overview for March 12 The US market is experiencing a strong correction. US major indices on Tuesday: the Dow -1.1%, the NASDAQ -0.2%, the S&P 500 -0.8%

Jozef Kovach 11:36 2025-03-12 UTC+2

Stock Market on March 12th: S&P 500 and NASDAQ Hit Another Low

Futures on the S&P 500 index rose by 0.2% after losing 0.76% at the end of the previous day, while Nasdaq 100 futures added 0.3% after closing at -0.18%. Stocks

Jakub Novak 10:58 2025-03-12 UTC+2

Trump's meeting with Wall Street leaders set to stabilize market

Amid a sharp decline in US stock markets, President Donald Trump will meet with chief executives of major companies today as industry leaders try to navigate the uncertainty surrounding widespread

Jakub Novak 13:32 2025-03-11 UTC+2

Black Monday on Wall Street. US stocks lose $4 trillion in market capitalization

S&P500 Market review on March 11 US stock market suffers a crash. $4 trillion lost, but game not over yet Performance of benchmark stock indices on Monday: Dow: -2.1% NASDAQ

Jozef Kovach 12:14 2025-03-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.