On Wednesday the S&P 500 briefly broke below 4,240 to test support at the lower end of an upward-sloping trend channel that has been building since last October’s low. This took the index back to its lowest level since the early summer and had many traders expecting an extended decline.
But it snapped back and in early trade on Friday the S&P had added just...
On Wednesdy gold slumped below $1,900 per ounce to hit its lowest level since March this year. Some analysts blame the dollar for this, pointing out that gold is negatively correlated with the US dollar. In fact, while this can be the case, there are plenty of times in history when the two have risen together, fallen together or completely ignored each other. It’s...
With less than a week to go until the end of September and the beginning of the fourth quarter, it looks as if the stage is set for a painful decline for the rest of 2023.
The S&P is down around 4% so far this month, and has lost 6.5%, or 300 points, since it poked its head above 4,600 at the end of July. This high also marked the S&P's best level since March...
In the latest #TradewithDave update we look back at last week’s big events, and consider what’s happening in the week beginning 25th September.
The US Federal Reserve
Last Wednesday the Federal Reserve’s FOMC kept its key Fed Funds interest rate unchanged, as expected. This was the first FOMC meeting since July when the Fed hiked rates by 25 basis points,...
In the latest #TradewithDave update we consider some of this week’s big events, and take a look at what’s happening in the week beginning 18th September.
US inflation
We had the latest updates on US inflation in the form of the Consumer Price Index (CPI), and the Producer Price Index (PPI). While mixed overall, both reports showed some upside surprises, with...
