S&P 500 (SPY) Report – 11/23/22
Good morning traders!
The S&P 500 ($SPY) is trading near yesterday’s close. Let’s get into it…
The markets are trading flat this morning as investors await the Federal Reserve meeting minutes for clues on the pace of future interest rate hikes. The minutes will once again be closely examined as the markets are anxious to assess the Fed’s discussion about the future trajectory of interest rates. Inflation in the United States dropped in October, according to figures released after the Fed’s November meeting. The minutes could change how markets view and react to upcoming data.
In the news, Janet Yellen, the US Treasury Secretary, spoke and pledged $4.5 billion in aid to Ukraine. “Today, the United States continued to uphold its unwavering commitment to Ukraine with the mobilization of an additional $4.5 billion in grants for direct budget support. These funds will begin disbursing in the coming weeks and help the Government of Ukraine defend against Russia’s illegal war by bolstering economic stability and supporting core government services, including wages for hospital workers, government employees, and teachers as well as social assistance for the elderly and vulnerable.”
Potential Intraday Resistance Levels:
11/15/22 High of Day: $403.54
200D SMA (1Y:1D): $405.30
Potential Intraday Support Levels:
200D SMA (1hr): $396.62
11/22/22 Low of Day: $395.15
Note: Moving averages are reported from the previous trading session and will change during the next trading session.
Wednesday Economic Events:
MBA Mortgage Applications 7:00am ET
Durable Goods Orders 8:30am ET – High Volatility Expected
Jobless Claims 8:30am ET – High Volatility Expected
PMI Composite Flash 9:45am ET
New Home Sales 10:00am ET – High Volatility Expected
Consumer Sentiment 10:00am ET
EIA Petroleum Report 10:30am ET- High Volatility Expected
Fed Speaker Scheduled:
No Fed Speakers Scheduled
Stock Market Holidays
Thanksgiving Day- November 24, 2022 – Closed
Early Close – November 25, 2022 – 1:00 p.m
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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