S&P 500 (SPY) Report – 04/28/23

Good morning traders!

The S&P 500 ($SPY) is trading below yesterday’s close. Let’s get into it…

U.S. stock futures are trading lower this morning as the Federal Reserve’s preferred inflation measure, the core personal-consumption expenditures price index, rose by 4.6% YoY in March, higher than economists had predicted. However, the figure did decelerate from February’s 4.7%. This news may prompt the Federal Reserve to hike interest rates by 25 basis points at the upcoming May meeting. Although there was a big rally on Thursday, which resulted in the Dow and the S&P 500 having their best days since January, stocks look like they might end the week with a whimper. This is due to investors not being too happy with the latest batch of tech earnings, which could impact the market in the coming weeks. There are more quarterly results ahead next week, including big names such as Ford, Starbucks, and Warner Bros. Discovery. Keep up with live market updates to stay informed.

Trade Ideas:
We advise everyone to trade with caution today as today’s data releases can lead to high market volatility as investors and traders adjust to the new information.

Friday Economic Events:
Core PCE Price Index – High Volatility Expected
Personal Income and Outlays 8:30am ET
Employment Cost Index 8:30am ET
Chicago PMI 9:45am ET
Consumer Sentiment 10:00am ET
Michigan Inflation Expectations 10:00am ET
Baker Hughes Rig Count 1:00pm ET
Farm Prices 3:00pm ET

Fed Speaker Scheduled:
No Fed Speakers Schedule


DailyBubble’s Disclaimer
This article provided by the DailyBubble team should only be considered as informational and/or entertainment by the reader. DailyBubble makes no representation to buy or sell any security or financial instrument within the article. Readers seeking investment advice should seek independent financial advice from a professional, and independently research and verify. The DailyBubble team wrote this article and may express its own opinions therein.

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