Dua tahun ini, kita menyaksikan pergerakan harga minyak terbesar dalam tempoh 14 tahun, yang membingungkan pasaran, pelabur dan pedagang akibat ketegangan geopolitik dan peralihan ke tenaga bersih.
Will S&P 500 reach all-time high?
2020-08-10 • Dikemaskini
It has been climbing up for the 9th day in a row. Look for trade ideas.
Why is it important?
Let’s start with the fundamentals. It’s a common fact that the S&P 500 is a so called benchmark of the US economy. Thus, when the US economy gets under threat, the S&P 500 tends to dip down. As you might know, US-China trade talks are scheduled for this week. This agreement is widely watched by all the market participants, as it will impact the overall sentiment.
What happened?
Today Bloomberg reported that China imposed sanctions on US officials in reply to the US actions over Hong Kong's leader Carrie Lam. It definitely adds more pressure on the Sino-Americans tensions. However, investors shrugged off that news and continue buying the S&P 500. Maybe this year is so filled with negative news that people’s reaction has weakened.
Another reason, which may weigh on the US economy, is disputes between Democrats and Republicans over the fiscal stimulus package. The US president Donald Trump made executive orders to speed up their agreement. However, discussions continue. And, again, it seems it doesn’t bother investors so much.
Wells Fargo Securities thoughts on S&P
According to Chris Harvey, head of equity strategy at Wells Fargo Securities, one thing still can stop the S&P 500’s rally. It is negative interest rates, which officials may impose again. Wells Fargo Securities set the price target at 3 388 for the S&P 500. Harvey claimed that the stock index may reach this level before further contraction as elections in November may add headwinds.
Some analysts believe that the Federal Reserve is interested in depreciating the US dollar. Therefore, multinational corporations will get a boost as people will try to escape from the currency, which is losing its value every day. So, the S&P 500 should gain on that.
Technical tips
The S&P 500 is approaching the all-time high at 3 390. All the moving averages are in descending order, that indicates a really strong uptrend. If the price goes above 3 390, it will surge to the key psychological mark at 3 500. Nevertheless, the move below the low of August 7 at 3 325 may push the stock index lower to the low of August 4 at 3 270. Follow further news!
Serupa
Selepas beberapa bulan menerima tekanan dari Rumah Putih, Arab Saudi mengalah dan bersetuju untuk meningkatkan pengeluaran bersama dengan ahli-ahli OPEC+ yang lain.
Semakin ramai penganalisis yakin bahawa minyak Brent akan melepasi $100 setong. Jadi sekuat manakah minyak akan menggerakkan pasaran, dan ke manakah arah pergerakan itu? Jom ketahui!
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