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On September 13th, Bank of America said that with increasing signs of resilience in emerging economies, emerging markets may see larger capital inflows at the beginning of next year, which will drive further capital shifts away from US assets. "People will become more optimistic at the beginning of next year as they will be confident that the economic impact of trade tensions will be limited," said David Hauner, head of global emerging market fixed income strategy at Bank of America. "Even small diversification flows from the United States can have a very significant effect." Hauner has maintained a bullish stance on emerging markets since the first quarter. He believes that this asset class will benefit from a weaker US dollar, room for further interest rate cuts by central banks around the world, and the historically low allocation of global funds to emerging markets. Hauner said that Brazil, Mexico, Colombia, Turkey, and Poland will be the main beneficiaries of foreign capital inflows.IDF: Siren sounds in central Israel as missiles are launched from Yemen.According to The Information: Jon Jones, head of Amazons (AMZN.O) cloud service startup division, has resigned.On September 13th, Faraday Future (FFIE.O) announced that, in line with its overall strategic plan, it is actively planning the spin-off and public listing of its Crypto & C10 and related crypto assets and businesses. Faraday Future stated that over the past two weeks, its C10 Treasury has successfully completed two rounds of crypto asset allocation totaling approximately $7 million.S&P: Due to the continued improvement in external fiscal conditions, Spains rating was raised to A+ with a stable outlook.

S&P 500 Reached 4,000 – Is Bear Market Over?

Cory Russell

Nov 15, 2022 17:16

After gaining by 5.5% on Thursday, the S&P 500 index gained by 0.92% on Friday. The market remained positive after the release of the Consumer Price Index on Thursday, and the index for the entire stock market rose to its highest level since September 13. On Friday, the day's high was 4,001.48.


This morning's opening of the S&P 500 index is predicted to be 0.3% lower. We might see a profit-taking strategy at some time. There haven't, however, been any unambiguous early warning indications.


On the daily chart, we can see that the S&P 500 index broke over its prior regional highs last week and hit the 4,000 level.

Futures Contract with Short-Term Uncertainty

Let's examine the hourly chart for the S&P 500 futures contract. It barely climbed beyond the 4,000 level on Friday. It appears to be in a short-term consolidation phase right now, or it may be a flat decrease within an uptrend. Among other things, the resistance level is between 4,000 and 4,050.


In our opinion, there are presently no positions that are warranted in terms of risk versus reward.

Conclusion

The stock market is anticipated to vary after last week's huge increase from Thursday to Friday. The S&P 500 index may pause after reaching 4,000 last week. The market appears to be briefly overbought, so during the trading day we might see some profit-taking. There haven't, however, been any unambiguous early warning indications.

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