S&P500
US Weekly Market Outlook for August 25-31, 2021.
The US market gained for the week despite the Fed's negative information. The old sectors fell behind, the Dow Jones index changed little.
For the whole week, the market has been influenced by two opposing factors.On the one hand, a strong US economy is pushing the market higher. On the other hand, the reports of tightening Fed policy and extremely high stock prices prevent buying. It is about time a correction started. But currently, the market is at highs.
Weekly indices:
Dow Jones 35380 - 35400 +20 pips or + 0.1%
S&P500 4490 - 4528 + 38 pips or + 0.7%.
NASDAQ 15040 - 15260 pips or +1.5%.
Forecast:
Dow Jones range 35300 - 35450
S&P500 range 4480 - 4560
NASDAQ range 15100 - 15400
Conclusion. The market will get a batch of significant US economic data for August on Wednesday-Friday. This may cause strong moves. In addition, the start of the new US fiscal year on September 1 could trigger massive selling by funds.
The material has been provided by InstaForex Company - www.instaforex.com