empty
04.08.2023 01:05 PM
American premarket on August 4. Stocks resume downward movement

Futures on US stock indices opened slightly higher on Friday. However, later, the pressure returned. Treasury notes continued their decline ahead of the release of US employment data. Speculators are sure to study it carefully for clues regarding Fed's future plans for monetary policy. Yet, some analysts assume that the regulator will be forced to continue the tightening cycle this fall. The Stoxx Europe 600 index also fell after an attempt to rise during the Asian session.

This image is no longer relevant

Optimism in the stock market has waned after Apple Inc. reported a decrease in sales for the third quarter in a row yesterday. Sentiment improved as Amazon.com shares climbed by 9% after the news that the revenue of the world's largest e-commerce and cloud services company exceeded estimates.

Today, the NonFarm Payrolls report is in the spotlight. The economy is expected to add 200,000 new jobs in July. Although this will be the weakest result since the end of 2020, historically, this is a strong figure. If the report is positive, the Fed could stick to aggressive tightening. This is bearish for the US stock market and for risk assets.

As I have mentioned above, the yield on Treasury bonds rose. The benchmark 10-year government bonds added two basis points, growing to 4.19%. According to a report by Bank of America Corp., investors are now feeling from stocks as the risk of an economic downturn increases every day due to aggressive tightening. "Private clients are shifting back to 'risk-off' mode," analysts stressed, adding that a hard landing was still a risk for the second half of 2023 amid higher bond yields and tighter financial conditions.

WTI crude futures recovered to their weekly high of 81.86, while gold prices decreased after the growth of the US dollar and a fall in demand in the bond market.

This image is no longer relevant

As for the technical outlook of the S&P 500, it was still trading with a bearish bias. Bulls may start the uptrend if the index settles above $4,515. At this level, there may be a breakout of $4,539. Bulls should also take control of $4,557. It will boost the bull market. In case of a downward movement due to low risk appetite, the index needs to hit $4,488. After that, an upward movement to $4,469 and $4,447 may occur.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US stock market on April 11: S&P 500 and Nasdaq plunge

US equity markets ended Thursday's regular session with steep losses. The S&P 500 dropped 3.46%, the Nasdaq 100 fell 4.31%, and the Dow Jones Industrial Average declined 2.50%

Jakub Novak 13:41 2025-04-11 UTC+2

Update on US stock market on April 11. Major pullback after strong rally. Market regains consciousness.

S&P500 Snapshot of the US benchmark stock indices on Thursday: * Dow -2.5%, * NASDAQ -4.3%, * S&P 500 -3.5% The S&P 500 closed at 5,268, within the range

Jozef Kovach 12:00 2025-04-11 UTC+2

Stocks skyrocket after Trump's tariff delay

The US stock market just experienced one of the most powerful waves of optimism in recent years. On Wednesday, following a statement from President Donald Trump, major stock indices posted

Anna Zotova 15:10 2025-04-10 UTC+2

US market rebounds strongly, but Trump's trade war with China remains unresolved

S&P 500 Overview for April 10 US market rebounds strongly, but Trump's trade war with China remains unresolved Major US indices on Wednesday: Dow +8%, NASDAQ +12%, S&P 500 +9.5%

Jozef Kovach 11:45 2025-04-10 UTC+2

Update on US stock market on April 10. SP500 and NASDAQ grow like mad

At the close of yesterday's regular trading session, US stock indices ended with solid gains. The S&P 500 jumped by 9.52%, while the Nasdaq 100 surged by 12.15%. The industrial

Jakub Novak 11:31 2025-04-10 UTC+2

US and China engaged in fierce battle: markets slump, high-tech stocks bruised, gold stands tall

Global markets are once again in turmoil: the escalation of the trade war between the US and China has slammed stock markets, gold is breaking records, Meta is mired

Аlena Ivannitskaya 15:56 2025-04-09 UTC+2

US markets attempt to stabilize at key support levels

S&P 500 The market tries to hold support Main US indices on Tuesday: Dow -0.8%, NASDAQ -2.2%, S&P 500 -1.6%, S&P 500 at 4983, range 4800–5700. It was another volatile

Jozef Kovach 10:44 2025-04-09 UTC+2

Stock Market Overview for April 9: S&P 500 and NASDAQ Return to Annual Lows

Following Tuesday's regular trading session, U.S. stock indices closed with another decline, ending just a step away from their annual lows. The S&P 500 dropped by 1.57%, the Nasdaq

Jakub Novak 09:22 2025-04-09 UTC+2

US market: real reason behind Trump's tariffs revealed. Part 1

S&P 500 Overview for April 8 US market: real reason behind Trump's tariffs revealed. Part 1 Major US indices on Monday: Dow -0.9%, NASDAQ +0.1%, S&P 500 -0.2%, S&P

Jozef Kovach 13:50 2025-04-08 UTC+2

US market sees sharp rebound. Part 2

S&P 500 Overview for April 8 US market sees sharp rebound. Part 2 Major US indices on Monday: Dow -0.9%, NASDAQ +0.1%, S&P 500 -0.2%, S&P 500: 5,062, trading range

Jozef Kovach 13:04 2025-04-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.