S&P 500 (SPY) Report – 12/19/23

Good morning, traders!

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

U.S. stock  futures trade higher this morning, as this trend is a continuation of a winning streak, with the S&P 500 nearing its all-time high from January 2022. The tech-heavy Nasdaq and the Dow have also seen significant gains. This rally is attributed to a variety of factors, including the Federal Reserve’s indication of potential interest rate cuts in 2024 and signs of decreasing inflation.

In addition to market trends, investors are closely watching various economic data and earnings reports. Upcoming reports include building permits, housing starts, and earnings from major corporations like FedEx. These reports, alongside speeches from Federal Reserve officials, are crucial for investors to gauge the future direction of the economy and stock market.

Central bank policies, particularly those of the Federal Reserve and the European Central Bank, are under scrutiny. While there is optimism about potential rate cuts, some officials caution that these expectations might be premature. Upcoming data on durable goods orders and inflation measures are eagerly awaited to provide more clarity on economic trends. These developments are shaping investor sentiment, which is currently at its most optimistic since early 2022.

Internationally, Japan’s economic decisions are impacting global markets. The Bank of Japan’s decision to maintain its policy rate and signal no rush to remove negative interest rates has encouraged a boost in markets worldwide. This comes as central banks in the US and Europe are expected to begin easing their policies soon. Such global economic movements are influencing stock futures, with tech and crypto stocks showing notable gains.

Tuesday Economic Events:
Housing Starts and Permits 8:30am ET – High Volatility Expected
Redbook Sales 8:55am ET
Treasury Int. Capital 4:00pm ET
API Crude Oil Data 4:30pm ET

Fed Speaker Scheduled:
Raphael Bostic 12:30pm ET
Austan Goolsbee 6:00pm ET


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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