S&P 500 (SPY) Report – 5/31/22

Good morning! 

The S&P 500 (SPY) is trading slightly lower from Friday’s close. Let’s get into it…

In the news, President Joe Biden and Federal Reserve Chair Jerome Powell will meet today to discuss the status of the US global economy and inflation, according to a statement released by the White House. “The most important thing we can do now to transition from rapid recovery to stable, steady growth is to bring inflation down,” adding, “That is why I have made tackling inflation my top economic priority.” Biden said.

Potential Intraday Resistance Levels:
5/27/22 Close: $415.26
5/27/22 After-Hours High: $417.87

Potential Intraday Support Levels:
5/27/22 Market Open: $407.93
5/27/22 Intraday Support: $410.50

Note: Moving averages are reported from the previous trading session and will change during the next trading session. 

Tuesday Economic Events:
CaseShiller HPI 9:00am ET
FHFA House Price Index 9:00am ET
Chicago PMI 9:45am ET
Consumer Confidence 10:00am ET
Dallas Fed Mfg Survey 10:30am ET
Fed Discount Minutes 2:00pm ET
Farm Prices 3:00pm 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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