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The Nasdaq Composite Index opened 33.25 points higher, or 0.14%, at 23,144.71 on Wednesday, December 17; the S&P 500 Index opened 10.12 points higher, or 0.15%, at 6,810.33; and the Dow Jones Industrial Average opened 176.26 points higher, or 0.37%, at 48,290.52.The Swiss National Bank expects wage growth to slow to 1.3% in 2026, down from 1.6% in 2025.Swiss National Bank: Some companies affected by US tariffs are shifting production there.U.S. stocks opened higher, with the Dow Jones Industrial Average up 0.12%, the S&P 500 up 0.03%, and the Nasdaq Composite up 0.07%. Netflix (NFLX.O) opened 1.66% higher after Warner Bros. Discovery Ltd. (WBD.O) board rejected Paramount Pictures hostile takeover offer and continued to recommend a deal with Netflix. Oracle (ORCL.N) opened 3.02% lower after reports that its $10 billion Michigan data center project had stalled, but the company later responded that the equity transaction was still progressing as planned.On December 17th, a source familiar with the matter revealed that the South Korean National Pension Fund has activated its recently signed foreign exchange swap agreement with the Bank of Korea. The source indicated that the National Pension Fund also began currency hedging transactions with the central bank this week. The source did not specify whether this hedging was tactical or strategic. The National Pension Fund, South Koreas largest institutional investor with approximately $542 billion in overseas assets, is currently playing a greater role in maintaining currency stability. The weakening won has made it one of the worst-performing currencies in Asia this year.

S&P 500 Price Forecast – Stock Markets Get Sold to Kick off the Week

Alice Wang

Aug 23, 2022 14:48

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The 200-Day EMA was breached by the S&P 500 during the trading session after a steep decline. At this point, the Jackson Hole Symposium this week is still causing a lot of fear in the market.

Technical Analysis of the S&P 500

As there is still a lot of pessimism, the S&P 500 has dropped significantly in the E-mini contract during the trading session on Monday. The central bankers' blather will ultimately draw a lot of attention to this week's Jackson Hole Symposium, and people will be curious about whether or not they will continue to be active in battling inflation. It does make some sense that equities would suffer as long as there is a central bank that is prepared to battle inflation, so a retreat this week is probably to be anticipated.


Along with the 50-Day EMA below, the 4113 level is a region where I anticipate seeing a lot of support. Clearing all of that would be a really unfortunate turn of events, and this market would undoubtedly fall below the 4000 level as a result. The stock market surge, in my opinion, may be almost done at this point, and the direction we go over the following few days' larger move will almost probably be determined by those events.


Sadly, much of this will depend on how the markets understand the statements made by central bankers, which implies that they "may get it wrong" once again. However, by the end of the week, we should see a lot of the momentum that traders have exhibited in one way or the other. On the upside, I believe there is still resistance in the area around the 4300 mark, which may have been the peak.

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