empty
 
 
01.09.2021 09:53 AM
US stock market adds 82% since last March

This image is no longer relevant

S&P 500

The US market kicked off the new month at year highs.

On Tuesday, the US indices closed the previous month with slight losses: the Dow Jones Industrial Average declined by 0.1%, S&P 500 fell by 0.13%, and the NASDAQ Composite lost 0.04%.

Asian markets rose on the last day of August: the indices of China and Japan added 1.3%.

China: The Caixin Manufacturing Purchasing Managers' Index showed a decline in activity. The indicator fell to 49.2 in August.

Commodity market. Brent crude is consolidating in the range of $72-73, slightly below the August highs of $74.

COVID in the world. The third wave of the coronavirus is just below its highs. Yesterday, the number of cases increased by 608 K globally. The US reported an increase in new infections by 156 K. Britain is ranked third in the world in terms of new cases. Coronavirus cases in the UK rose to 32 K.

S&P 500: 4522. Trading range: 4,480-4,540. August marked the seventh consecutive month of continuous growth in the S&P 500 index. In August, the main index of the US market surged by 115 points, or almost 3%, to 4515 from 4400. Growth in the US market accelerated last spring, following a collapse during the first wave of the coronavirus. Since the end of March last year, the S&P 500 index has risen by a whopping 2,035 points, or 82%, to 4,515 from 2,480. Considering the record prolonged bullish cycle of the US market initiated in March 2009, the S&P 500 index has skyrocketed by 472% to 4,522 from 672. On the one hand, this indicates the strong state of the US market and the country's economy, fueled by the Fed's aggressive policy. On the other hand, a big correction is long overdue.

Today's macroeconomic calendar includes important releases from the United States for August. Thus, the ISM Manufacturing PMI is expected to decrease to 58 compared to 59.5 in July. As for the ADP National Employment Report, nonfarm payrolls are anticipated to increase by 660 K against 330 K in July.

USDX: 92.70. Trading range: 92.20–93.00. Market participants are awaiting the Fed's monetary policy decisions. The dynamics of the US dollar index may be affected by a correction in the US market, of course, if it takes place.

USD/CAD: 1.2610. Trading range: 1.2550-1.2650. The pair is trading under growing pressure from high oil prices. In case of a new rise in oil prices, the pair may fall below the level of 1.2500.

Conclusion. Market participants are awaiting statistics from the United States.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback