Investorideas.com

Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS




Share on StockTwits

S&P 500 expectations as the start of the new earnings season approaches

Today's market analysis on behalf of Rania Gule Market Analyst at XS.com

 

January 10, 2024 (Investorideas.com Newswire) The S&P 500 index started the current week on a positive note due to increased risk appetite, but it retreated as the release of U.S. inflation data approached, trading at $4,753.30 at the beginning of Wednesday's session. The market is gearing up for the start of the new earnings season, with major banks beginning fourth-quarter releases next Friday.

The Consumer Price Index (CPI) for December is set to be released on Thursday, providing further signals about the timing of interest rate cuts by the Federal Reserve. On Friday, a significant number of high-profile banks and financial institutions, including BlackRock (BRK), Wells Fargo (WFC), Bank of America (BAC), JPMorgan (JPM), and UnitedHealth Group (UNH), will announce their financial results for the quarter ending in December. This is expected to have a definite impact on the short-term and medium-term movement of stock market indices.

Currently, the stock market appears to be undergoing a corrective pullback from the highs of December, entering a consolidation phase after the substantial increase starting in November from the $4,100 level. However, the upward trend seems to remain active in the medium term, as investor sentiment remains optimistic.

The AAII investor sentiment survey released last Wednesday showed that 48.6% of individual investors are still optimistic, surprisingly higher than the previous reading of 46.3%. The AAII index is considered a contrarian indicator, meaning extremely high readings may indicate excessive satisfaction and lack of fear in the market, while low readings support market increases.

Stock indices are likely to remain stable today in a sideways direction, with potential attempts to test the 4,700 level. Market participants are eagerly awaiting the release of the crucial Consumer Price Index tomorrow (Thursday) and the commencement of the new earnings distribution season on Friday.

As mentioned earlier, the likely scenario is to stay within the 4,700 to 4,800 range despite the dip below 4,700 last week. Therefore, it is advisable to shorten the trading time frame, looking for buying opportunities at support levels and bottoms and selling at resistance levels and peaks.

More Info:


Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp


That's all it takes to get an article published on Investor Ideas - Learn More