FXStreet notes that S&P 500 spotlight turns back on the 4234/38 highs. With momentum turning higher and with volume and breadth measures improving, analysts at Credit Suisse stay biased higher for an eventual closing break higher and a resumption of the core uptrend to 4260, then 4350.
“With daily MACD momentum having already turned higher and with volume and breadth measures improving we continue to look for an eventual clear and closing break above the 4238 record high to resolve the consolidation range higher for a resumption of the core uptrend. We would then see resistance next at 4260, with trend resistance from mid-April now at 4325 and with 4350 our next core objective.”
“Near-term support moves to 4217, with gap and 13-day average support at 4206/4192 now ideally holding to keep the immediate risk higher."
U.S. stock-index futures traded flat on Monday, as investors assessed the comments of the U.S Treasury Secretary Janet Yellen, who said that President Joe Biden should push for his $4 trillion spending plan even if it results in a spurt in inflation and slightly higher interest rates, while awaiting Thursday's report on the U.S. May consumer price index (CPI).
Global Stocks:
Index/commodity | Last | Today's Change, points | Today's Change, % |
Nikkei | 29,019.24 | +77.72 | +0.27% |
Hang Seng | 28,787.28 | -130.82 | -0.45% |
Shanghai | 3,599.54 | +7.70 | +0.21% |
S&P/ASX | 7,281.90 | -13.50 | -0.19% |
FTSE | 7,096.43 | +27.39 | +0.39% |
CAC | 6,539.95 | +24.29 | +0.37% |
DAX | 15,712.41 | +19.51 | +0.12% |
Crude oil | $69.40 | -0.32% | |
Gold | $1,888.00 | -0.21% |
(company / ticker / price / change ($/%) / volume)
3M Co | MMM | 206.35 | 0.30(0.15%) | 535 |
ALCOA INC. | AA | 38.81 | -0.03(-0.08%) | 15246 |
ALTRIA GROUP INC. | MO | 49.86 | 0.09(0.18%) | 28767 |
Amazon.com Inc., NASDAQ | AMZN | 3,208.00 | 1.78(0.06%) | 17678 |
American Express Co | AXP | 165.11 | 0.11(0.07%) | 1165 |
Apple Inc. | AAPL | 126.45 | 0.56(0.44%) | 734565 |
AT&T Inc | T | 29.33 | 0.06(0.21%) | 74502 |
Boeing Co | BA | 251.27 | 1.35(0.54%) | 65365 |
Caterpillar Inc | CAT | 244.55 | 0.53(0.22%) | 2356 |
Chevron Corp | CVX | 107.98 | -0.47(-0.43%) | 2475 |
Cisco Systems Inc | CSCO | 54.12 | 0.05(0.09%) | 14825 |
Citigroup Inc., NYSE | C | 79.8 | 0.31(0.39%) | 9408 |
Deere & Company, NYSE | DE | 356.6 | -0.04(-0.01%) | 1756 |
E. I. du Pont de Nemours and Co | DD | 85.5 | -0.07(-0.08%) | 1524 |
Exxon Mobil Corp | XOM | 61.36 | -0.09(-0.15%) | 54050 |
Facebook, Inc. | FB | 329.92 | -0.43(-0.13%) | 42930 |
FedEx Corporation, NYSE | FDX | 303.14 | 1.02(0.34%) | 2508 |
Ford Motor Co. | F | 16.09 | 0.12(0.75%) | 1329613 |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 41.54 | -0.19(-0.46%) | 42093 |
General Electric Co | GE | 14 | 0.04(0.29%) | 156531 |
General Motors Company, NYSE | GM | 64.01 | 0.64(1.01%) | 150198 |
Goldman Sachs | GS | 393.39 | 1.94(0.50%) | 7248 |
Hewlett-Packard Co. | HPQ | 30.67 | 0.04(0.13%) | 14551 |
Home Depot Inc | HD | 311.5 | 0.49(0.16%) | 3668 |
Intel Corp | INTC | 57.38 | 0.01(0.02%) | 36003 |
International Business Machines Co... | IBM | 147.75 | 0.33(0.22%) | 1113 |
International Paper Company | IP | 64.72 | 0.07(0.11%) | 5459 |
Johnson & Johnson | JNJ | 166.34 | 0.37(0.22%) | 4647 |
JPMorgan Chase and Co | JPM | 167.26 | 0.82(0.49%) | 14309 |
Merck & Co Inc | MRK | 74.4 | 0.29(0.39%) | 12213 |
Microsoft Corp | MSFT | 250.55 | -0.24(-0.10%) | 94182 |
Nike | NKE | 133.6 | -0.14(-0.10%) | 1262 |
Pfizer Inc | PFE | 39.19 | 0.04(0.10%) | 38094 |
Starbucks Corporation, NASDAQ | SBUX | 111.9 | -0.09(-0.08%) | 3146 |
Tesla Motors, Inc., NASDAQ | TSLA | 595.8 | -3.25(-0.54%) | 197939 |
The Coca-Cola Co | KO | 56.31 | 0.07(0.12%) | 14696 |
Twitter, Inc., NYSE | TWTR | 58.85 | -0.15(-0.25%) | 26430 |
UnitedHealth Group Inc | UNH | 405.28 | -0.36(-0.09%) | 509 |
Verizon Communications Inc | VZ | 57.38 | 0.08(0.14%) | 41663 |
Visa | V | 232.4 | 2.26(0.98%) | 20991 |
Wal-Mart Stores Inc | WMT | 141.95 | 0.10(0.07%) | 1202 |
Walt Disney Co | DIS | 177.41 | 0.23(0.13%) | 11154 |
Yandex N.V., NASDAQ | YNDX | 67.35 | -0.27(-0.40%) | 10392 |
Visa (V) upgraded to Overweight from Neutral at Piper Sandler; target raised to $260