Year-end and forthcoming Holiday session in combination with expectations for cooler inflation and potential Fed`s pivoting during the Q1 next year, all contributed toward the optimistic market sentiment when US equities are in question. The latest published PCE data on Friday indicated that inflation will continue to cool down, which supported the S&P 500 to trade at levels of 4.770, the highest for this year. However, it should be noted that these levels continue to be at highly overbought momentum, which might indicate some reversals in the coming period. Still, for the year-end, the majority of investors will book a high profitability for this year.
During the week ahead there should not be expected any significant moves in the US equity index. Markets are closed on Monday, while the majority of traders and investors have already closed or set their positions for the year ahead. In this sense, it might be expected that S&P will close this year at levels around 4.700, eventually might try once again to test the 4.770 level.
During the week ahead there should not be expected any significant moves in the US equity index. Markets are closed on Monday, while the majority of traders and investors have already closed or set their positions for the year ahead. In this sense, it might be expected that S&P will close this year at levels around 4.700, eventually might try once again to test the 4.770 level.
