S&P 500 Breaches Key Level As Stocks Power Ahead: Markets Wrap

Vladimir Ribakov · 2 years ago · 128 views

Stocks started the week on a positive note, with traders waiting to hear from a raft of Federal Reserve speakers for clues on the outlook for interest rates. The S&P 500 topped its average price of the past 50 days — a level seen by some as key in maintaining the positive momentum. In a thin week of economic data, investors will be watching the Fed’s Senior Loan Officer Opinion Survey (SLOOS). With higher funding costs recently hitting banks, expectations are that they have become more selective in terms of lending — which might have influenced Fed Chair Jerome Powell’s not-so-hawkish tone last week. Investors are now cautiously […] The post S&P 500 Breaches Key Level As Stocks Power Ahead: Markets Wrap appeared first on Vladimir Ribakov.