stocks-sp-500
    stocks-sp-500

    S&P 500; US Indexes Fundamental Forecast – January 11, 2017

    9 months agoByJames Hyerczyk

    The three major stock indices closed mixed again on Tuesday as investors had very few fresh economic reports to react to ahead of President-elect Donald Trump’s first press conference since the election on Wednesday.

    Technology buyers continued to support the NASDAQ Composite, but lower oil prices once again created uncertainty for Dow and S&P 500 Index investors.

    daily-dow-jones-industrial-average
    Daily March Dow Jones Industrial Average

    The blue chip Dow Jones Industrial Average finished at 19855.53, down 31.85 or -0.16%. The benchmark S&P 500 Index closed at 2268.90, unchanged, a pretty rare occurrence and the NASDAQ Composite ended the session at 5551.82 after hitting a new record high, up 20.00 or 0.36%.

    Investors struggled on Tuesday with the markets posting a two-sided trade. This tends to indicate uncertainty and trader indecision.

    In economic news, the NFIB Small Business Index came in at 105.8, beating the estimate at 99.6 and the previous 98.4. The JOLTS Job Openings report came in at 5.54 million, slightly below the 5.59 million estimate, however, more than the previous read of 5.45 million. Lastly, Final Wholesale Inventories rose 1.0%, higher than the expected and previous 0.9%.

    daily-sp-500-index
    Daily March E-mini S&P 500 Index

    Forecast

    Trading could be slow early in the session on Wednesday as investors await Trump’s press conference that is tentatively scheduled for 1600 GMT. Traders are mixed about the event. Some feel it will be a dud because journalists could ask questions on about any topic. Some feel that Trump is a wildcard and anything can come out of his mouth that could create volatility.

    Ideally, investors would like to hear his responses to questions about his plans to rebuild American, cut taxes and loosen banking regulations. However, he is more likely to field questions on the repealing of Obamacare, the Russian hacking incident and his conflicts of interest.

    With the exception of the NASDAQ, the other major indexes look tired and some investors may use Trump’s press conference as an excuse to book profits and to lighten up few of their long positions.

    The direction of the indexes today is essentially a coin toss because no one is certain how Trump will react to questions at the press conference. That’s why all we can say for today is to count on volatility.

    Favorites

    SymbolLast PriceChangeChart

    Live Quotes

    Top Promotions
    Top Brokers

    FX Empire - the company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as link result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.
    FX Empire may receive compensation from the companies featured on the network.

    All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. FX Empire bears no responsibility for any trading losses you might incur as link result of using any data within the FX Empire.