Equity Indices are seeing selling pressure into the close today marking the first down day of the week. The selling was led by the Nasdaq which traded down near 0.6% after being the most technically “overbought” of the equity indices on a daily basis. The economic data slate today showed PMI came in slightly worse than expected, and the markets slowly traded lower throughout the session before closing. Traders also heard remarks from Fed Chair Powell where he re-emphasized some of the points from the Fed meeting last week, and also said there is no risk-free path in balancing jobs and inflation.
Outside markets saw strong movements today as well, with the precious metals continuing to move higher, looking at Gold, Silver, and Copper all moving higher and Gold and Silver recording another new all time high price. Energy markets also saw a nice move higher today as Crude Oil and Natural Gas both traded up over 2% on the day. Tomorrow, we will see economic reports on New Home Sales along with Crude Oil Inventories that may add additional volatility into the markets.
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*CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc.
**All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
Outside markets saw strong movements today as well, with the precious metals continuing to move higher, looking at Gold, Silver, and Copper all moving higher and Gold and Silver recording another new all time high price. Energy markets also saw a nice move higher today as Crude Oil and Natural Gas both traded up over 2% on the day. Tomorrow, we will see economic reports on New Home Sales along with Crude Oil Inventories that may add additional volatility into the markets.
If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/
*CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc.
**All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
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Further details of CME Group's regulatory status and full disclaimer of liability in accordance with applicable law are available here: cmegroup.com/disclaimer.html
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.