FXStreet reports that the S&P 500 Index is seeing a sharp loss of near-term momentum. Analysts at Credit Suisse look for a test of key support from its 13-day exponential average at 4502, a close below which would confirm a corrective setback is underway.
“The rally in the S&P 500 is showing signs of stalling with near-term momentum turning sharply lower. Key near-term support remains seen at the rising 13-day exponential average at 4502, a close below which should confirm a corrective phase lower is indeed underway for a test of the 4469 recent low, with scope then for the potential uptrend from July and price support at 4446/42.”
“Resistance is seen at 4529 initially, with a break above 4546 needed to curtail thoughts of a correction to reassert the uptrend with resistance then seen next at 4565 ahead of 4600/15.”
U.S. stock-index futures traded flat on Wednesday, as investors took a cautious stance amid concerns about the spread of the Delta coronavirus variant and its impact on the global economic recovery.
Global Stocks:
Index/commodity | Last | Today's Change, points | Today's Change, % |
Nikkei | 30,181.21 | +265.07 | +0.89% |
Hang Seng | 26,320.93 | -32.70 | -0.12% |
Shanghai | 3,675.19 | -1.40 | -0.04% |
S&P/ASX | 7,512.00 | -18.30 | -0.24% |
FTSE | 7,111.49 | -37.88 | -0.53% |
CAC | 6,689.48 | -36.59 | -0.54% |
DAX | 15,675.58 | -167.51 | -1.06% |
Crude oil | $69.55 | +1.76% | |
Gold | $1,797.00 | -0.08% |
(company / ticker / price / change ($/%) / volume)
3M Co | MMM | 186.01 | 0.43(0.23%) | 3610 |
ALCOA INC. | AA | 46.6 | -0.17(-0.36%) | 37519 |
Amazon.com Inc., NASDAQ | AMZN | 3,508.00 | -1.29(-0.04%) | 13411 |
American Express Co | AXP | 159.03 | -0.69(-0.43%) | 1703 |
AMERICAN INTERNATIONAL GROUP | AIG | 54.26 | -0.41(-0.75%) | 1022 |
Apple Inc. | AAPL | 157.05 | 0.36(0.23%) | 662499 |
AT&T Inc | T | 27.47 | 0.05(0.18%) | 272499 |
Boeing Co | BA | 213.7 | -0.54(-0.25%) | 45754 |
Caterpillar Inc | CAT | 207.95 | -0.28(-0.13%) | 2634 |
Chevron Corp | CVX | 97.49 | 0.43(0.44%) | 3927 |
Cisco Systems Inc | CSCO | 58.73 | -0.15(-0.25%) | 4602 |
Citigroup Inc., NYSE | C | 70.6 | -0.22(-0.31%) | 14126 |
Deere & Company, NYSE | DE | 370.33 | -1.41(-0.38%) | 4214 |
Exxon Mobil Corp | XOM | 54.67 | 0.12(0.22%) | 33326 |
Facebook, Inc. | FB | 381.34 | -0.84(-0.22%) | 28556 |
FedEx Corporation, NYSE | FDX | 263.1 | -0.54(-0.20%) | 2424 |
Ford Motor Co. | F | 13 | 0.05(0.39%) | 717083 |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 36.25 | -0.11(-0.30%) | 24251 |
General Electric Co | GE | 103.04 | -0.25(-0.24%) | 7837 |
General Motors Company, NYSE | GM | 48.59 | -0.13(-0.27%) | 46175 |
Goldman Sachs | GS | 410 | -0.32(-0.08%) | 2495 |
Google Inc. | GOOG | 2,907.00 | -3.38(-0.12%) | 2185 |
Hewlett-Packard Co. | HPQ | 28.62 | -0.03(-0.10%) | 2955 |
HONEYWELL INTERNATIONAL INC. | HON | 222.48 | -0.45(-0.20%) | 533 |
Intel Corp | INTC | 53.59 | -0.06(-0.11%) | 35315 |
International Business Machines Co... | IBM | 137.92 | -0.14(-0.10%) | 9820 |
Johnson & Johnson | JNJ | 172.3 | -0.02(-0.01%) | 3223 |
JPMorgan Chase and Co | JPM | 158.9 | -0.31(-0.19%) | 12322 |
Merck & Co Inc | MRK | 76.05 | 0.07(0.09%) | 16401 |
Microsoft Corp | MSFT | 299.77 | -0.41(-0.14%) | 50426 |
Nike | NKE | 162 | -0.64(-0.39%) | 71038 |
Pfizer Inc | PFE | 46.59 | -0.16(-0.34%) | 103328 |
Starbucks Corporation, NASDAQ | SBUX | 115.69 | -0.10(-0.09%) | 7388 |
Tesla Motors, Inc., NASDAQ | TSLA | 762.62 | 9.70(1.29%) | 510009 |
The Coca-Cola Co | KO | 55.78 | 0.11(0.20%) | 25827 |
Twitter, Inc., NYSE | TWTR | 64.85 | -0.13(-0.20%) | 15718 |
Verizon Communications Inc | VZ | 54.88 | 0.06(0.11%) | 22257 |
Visa | V | 226.94 | 0.67(0.30%) | 8316 |
Walt Disney Co | DIS | 183.99 | -0.36(-0.19%) | 14528 |
Yandex N.V., NASDAQ | YNDX | 77.84 | 0.22(0.28%) | 9507 |
AT&T (T) initiated with a Buy at Lightshed Partners; target $36
Intel (INTC) resumed with a Hold at Deutsche Bank; target $58