S&P index turns negative on the year

The S&P index dipped briefly below its close level from 2022 at 3839.85. The low price reached 3838.24 but has bounced back marginally. The current price is trading at 3842.46 down 76.86 points or -1.96%.

The S&P's price also dipped below Monday's closing level, reaching a new low for the year at 3,808.86. From a technical perspective, the 50% midpoint of the upward move from the October 13 low, currently at 3,843.51, is in focus. A decline below this 50% midpoint and the closing price from 2022 would shift the bias more towards the downside, with Monday's low and the 61.8% retracement at 3,760.45 serving as the next key downside targets.

If there is a silver Silver Silver is a precious metal that is commonly traded on exchanges or through brokers. It is much more affordable than gold and thanks to its importance as an industrial metal as well as volatility, is widely traded.For precious metals traders, gold is a much more popular market. Big institutions buy gold as a currency hedge when real interest rates and yields on other assets become unacceptably low. Central banks will buy gold, not silver, as a reserve asset to diversify their currency exposure.In Silver is a precious metal that is commonly traded on exchanges or through brokers. It is much more affordable than gold and thanks to its importance as an industrial metal as well as volatility, is widely traded.For precious metals traders, gold is a much more popular market. Big institutions buy gold as a currency hedge when real interest rates and yields on other assets become unacceptably low. Central banks will buy gold, not silver, as a reserve asset to diversify their currency exposure.In Read this Term lining for equities Equities Equities can be defined as stocks or shares in a company that investors can buy or sell. For example, when you buy a stock, you are purchasing equity, thereby becoming a partial owner of shares in a specific company or fund.Equities do not pay a fixed interest rate, and as such are not considered guaranteed income. Consequently, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling p Equities can be defined as stocks or shares in a company that investors can buy or sell. For example, when you buy a stock, you are purchasing equity, thereby becoming a partial owner of shares in a specific company or fund.Equities do not pay a fixed interest rate, and as such are not considered guaranteed income. Consequently, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling p Read this Term, the probability of no change in policy has increased to 59%, with a 41% chance of a 25 basis point cut. In addition, the peak Fed funds rate last Wednesday was at up at 5.72%, and it now stands nearly 100 basis points lower at 4.76%. By January 2024, expectations indicate that the Fed funds rate could drop to 3.7%.

For now, however, the negatives from those rate projections (mostly lower growth and financial risks) outweigh the benefits of the change in rate expectations.

/Inflation