S&P 500 (SPY) Report – 6/03/22
Good morning. Happy Friday everyone!
The S&P 500 ($SPY) is trading lower pre-market. Let’s get into it…
Lael Brainard, the vice chair of the Federal Reserve, said she doesn’t anticipate the Fed slowing down on rate rises. “Right now, it’s very hard to see the case for a pause, We’ve still got a lot of work to do to get inflation down to our 2% target.” If inflation does not begin to moderate, another Fed meeting to raise rates at the same pace may be necessary, according to Brainard.
Potential Intraday Resistance Levels:
6/02/22 After-Hours High: $418.60
6/02/22 Close: $417.37
Potential Intraday Support Levels:
6/02/22 Low of Day: $407.04
5 Day EMA (1Y:1D): $411.10
Round Number: $410.00
Note: Moving averages are reported from the previous trading session and will change during the next trading session.
Friday Economic Events:
Employment Report 8:30am ET
PMI Composite Final 9:45am ET
ISM Services Index 10:00am ET
Fed Speaker Lael Brainard 10:30am ET
Baker Hughes Rig Count 1:00pm ET
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