S&P 500 Fundamental Forecast – September 14, 2016

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Published: Sep 13, 2016, 14:13 GMT+00:00

The S&P 500 recovered 31 points to 2158.04 moving past last week’s rout after Fed speakers turned hawkish. The S&P 500 Index’s turnaround

S&P 500 Fundamental Forecast – September 14, 2016

The S&P 500 recovered 31 points to 2158.04 moving past last week’s rout after Fed speakers turned hawkish. The S&P 500 Index’s turnaround yesterday was the most extreme since U.S. stocks got whipsawed by Europe’s debt crisis in the summer of 2011. Last week closed with 494 members of the benchmark losing ground. This week opened with 485 gaining. There have only been two bigger one-trading-day turnarounds — both in early August 2011.

Wall Street retreated amid a decline in energy prices that weighed on currencies of commodity-producing nations and boosted the dollar, as investors calibrated expectations toward less global monetary stimulus.

The S&P 500 Index renewed a selloff after equities in Asia and Europe failed to join a rebound Monday sparked by dovish comments from a Federal Reserve official. Crude dropped toward $45 a barrel in New York as the International Energy Agency said an oil glut will last well into 2017. Mexico’s peso fell in sympathy, leading declines among major currencies. Treasuries held near the lowest level since June even after Fed Governor Lael Brainard damped speculation on a U.S. interest-rate increase.

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Upcoming Economic Events that you should be monitoring:

September 14, 2016

AUD	Westpac Consumer Confidence	2	2
Japan	Industrial Production M	2	0
Japan	Industrial Production Y	2	-3.8
France	Consumer Price Index (EU norm) final Y	2	0.3	0.4
GBP	Average Earnings including Bonus	2	2.4	2.1
GBP	Average Earnings excluding Bonus	2	2.3	2.2
GBP	ILO Unemployment Rate	2	4.9	4.9
GBP	Claimant Count Change	2	-8.6	1.6
GBP	Claimant Count Rate	2	2.2
CHF	ZEW Survey – Expectations	2	-2.8
EUR	Industrial Production w.d.a. Y	2	0.4	-0.5
EUR	Industrial Production s.a. M	2	0.6	-0.8
AUD	RBA Assist Gov Debelle Speech	2
USD	Import Price Index M	2	0.1	-0.1
USD	Export Price Index Y	2	-3
USD	Import Price Index Y	2	-3.7
USD	Export Price Index M	2	0.2	0
USD	EIA Crude Oil Stocks change	2	-14.513

Government Bond Auctions

Date Time Country Auction

Sep 13 11:00 Netherlands Eur 2-3bn 0% Jan 2022 DSL

Sep 13 11:10 Italy Holds bond auction

Sep 14 11:05 Norway Holds bond auction

Sep 14 11:30 UK 0.125% 2046 I/L Gilt

Sep 14 11:30 Germany Eur 1bn 2.5% Jul 2044 Bund

Sep 15 10:30 Spain Holds bond auction

Sep 15 11:03 Sweden Holds I/L bond auction

Sep 15 11:50 France Holds bond auction

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