US30 NEUTRAL TO BEARISH OUTLOOK
U.S. stock futures dipped as investors remain uncertain about the economy's health and inflation. Dow futures slid 46 points (0.1%), S&P 500 futures down 12 points (0.3%), and Nasdaq 100 futures lost 65 points (0.4%). Last week, though, the major indices ended positively. Unexpectedly high unemployment and slower wage growth in August suggest the Federal Reserve may keep interest rates steady in September, pending more economic data.
Goldman Sachs lowered the chance of a U.S. recession in the next year from 20% to 15%, citing positive inflation data and a favorable labor market report. They anticipate the Fed's tightening effect to dwindle by early next year. Goldman Sachs sees Fed Chair Jerome Powell's cautious approach as a signal that a September rate hike is unlikely, with November also posing significant hurdles.
The Fed aims for a controlled economic slowdown to combat inflation.
Technical indicators, though, are showing mixed signals, with RSI being neutral and MACD showing a SELL signal.
If the price keeps falling, it might reach a support level of 34557, if the trend reverses, the bulls are expected to start entering at 34833.5 and the price might reach levels of 35011.5
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Goldman Sachs lowered the chance of a U.S. recession in the next year from 20% to 15%, citing positive inflation data and a favorable labor market report. They anticipate the Fed's tightening effect to dwindle by early next year. Goldman Sachs sees Fed Chair Jerome Powell's cautious approach as a signal that a September rate hike is unlikely, with November also posing significant hurdles.
The Fed aims for a controlled economic slowdown to combat inflation.
Technical indicators, though, are showing mixed signals, with RSI being neutral and MACD showing a SELL signal.
If the price keeps falling, it might reach a support level of 34557, if the trend reverses, the bulls are expected to start entering at 34833.5 and the price might reach levels of 35011.5
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.