Will the US stock index continue to rise?
According to the July Inflation Report, the US eased concerns about the Fed following its strong interest rate hike.
The US S&P 500 added +3.24%, the US Nasdaq 100 heavy-duty tech gained + 2.64%, and the US Russell 2000-focused subset added an impressive 4.95%. Joint retreats in short-term U.S.
Treasury yields and volatility measures remain key tools in the recovery of the U.S. stock market – which has officially entered the stock market.
The favourable season in the US stock market in the first two weeks of August has set gains for the US stock market in line with historical trends. A 20-year seasonal return study shows that August is generally positive, with the second half of the month making the most profit this month.
With real-time U.S. GDP tracking, we believe U.S. stock markets could continue to trade higher in the short term – at least until the Federal Reserve’s Jackson Hole Economic Policy Conference late of this month.
On Monday, August 15, the US NAHB August Housing Market Index will be released 30 minutes after the US cash stock market opened. On Tuesday, August 16th, building permits and residences in the United States will be published at 12:30 GMT.
Industrial production figures for July due at 13:15 GMT. On Wednesday, August 17th, US weekly mortgage program data will be released at 11 GMT. US July retail sales report will be reported at 12:30 GMT. The business inventory in June is scheduled to be released at 14 GMT. The July FOMC is set for 18 GMT.
The short-term US S&P 500 futures contract saw 216,439 contracts, up to 194,685 net short-term contracts made last week.
According to the S&P 500 chart analysis, there has been an increase since the first week of August from 4,076.60 to the current price of $ 4,268.95 per share. This week, the S&P 500 will rise further from 4,237.80 to $ 4,373.00 per share.
For this week, we encourage you to buy the S&P 500 at $ 4,248.60 and set a profit at $ 4,307 and set a risk loss at $ 4,205.00 per stock index.
Analyzed by: Mr. Long Samnang Business Manager of PP Link Securities
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