I see that the index is one of the best beneficiaries of the upcoming rebound movement
The levels I am waiting for are as follows
13069.48
14489.66
Comment:
US indices settle into the idea of rate hikes and make an impressive attempt at recovery while new sales data shines a light on the retail sector.
It’s all eyes on retail this week, and upbeat US Retail Sales data offsets concerns that Walmart prompted about spending. Retail sales grew at a solid pace in April, increasing 0.9% (just below estimates), powered by a 2.1% jump in online sales and suggesting demand remains strong despite skyrocketing inflation and rate hikes. Speaking of…
Fed Chair Jerome Powell put rate hikes front of mind on Tuesday by saying that the central bank wouldn’t hesitate to implement another half point rate hike (the highest in over two decades), promising to continue the hawkish stance until inflation is under control. It’s giving off 1994 vibes, which was the last time the Fed had such a stance.
Major US indices jumped into the green for the day despite all that though, giving investors hope that this week could snap a six-week losing streak. The Nasdaq lifted 2.62%, the S&P 500 sprang up 2%, the Dow increased 1.34% and the Russell 2K popped 3.19%. www.tradingview.com/...DX/history-timeline/
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It’s all eyes on retail this week, and upbeat US Retail Sales data offsets concerns that Walmart prompted about spending. Retail sales grew at a solid pace in April, increasing 0.9% (just below estimates), powered by a 2.1% jump in online sales and suggesting demand remains strong despite skyrocketing inflation and rate hikes. Speaking of…
Fed Chair Jerome Powell put rate hikes front of mind on Tuesday by saying that the central bank wouldn’t hesitate to implement another half point rate hike (the highest in over two decades), promising to continue the hawkish stance until inflation is under control. It’s giving off 1994 vibes, which was the last time the Fed had such a stance.
Major US indices jumped into the green for the day despite all that though, giving investors hope that this week could snap a six-week losing streak. The Nasdaq lifted 2.62%, the S&P 500 sprang up 2%, the Dow increased 1.34% and the Russell 2K popped 3.19%.
www.tradingview.com/...DX/history-timeline/