Recent moves: The S&P 500 (-0.36%) extended losses, still weighed by the AI-driven selloff earlier in the week. Futures have recovered about half of yesterday’s drop, but overall momentum looks paused.
Macro drivers:
US housing data + firmer oil prices dampened expectations for rapid Fed rate cuts.
This pushed Treasury yields higher, with a fresh steepening of the curve. 10yr yields are back near pre-payrolls levels (+10–15bps since the FOMC).
Today’s jobless claims are key after last week’s sharp drop, with tomorrow’s core PCE the bigger risk event.
Politics:
US government shutdown risks escalated, with the White House ordering contingency firings if funding lapses. Market anxiety may rise as deadlines loom.
Geopolitics in focus: Erdogan’s White House visit could bring defense deals (Boeing, Lockheed Martin) and NATO tensions remain over Russia.
Implication for S&P 500 trading:
Near-term tone is cautious, with yields back up and Fed easing hopes questioned.
Watch jobless claims for confirmation of labor resilience and core PCE tomorrow as the next major directional driver.
Shutdown risks add headline volatility, while defense sector stocks could outperform if US–Turkey talks deliver aircraft orders.
Key Support and Resistance Levels
Resistance Level 1: 6670
Resistance Level 2: 6700
Resistance Level 3: 6747
Support Level 1: 6550
Support Level 2: 6530
Support Level 3: 6500
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Macro drivers:
US housing data + firmer oil prices dampened expectations for rapid Fed rate cuts.
This pushed Treasury yields higher, with a fresh steepening of the curve. 10yr yields are back near pre-payrolls levels (+10–15bps since the FOMC).
Today’s jobless claims are key after last week’s sharp drop, with tomorrow’s core PCE the bigger risk event.
Politics:
US government shutdown risks escalated, with the White House ordering contingency firings if funding lapses. Market anxiety may rise as deadlines loom.
Geopolitics in focus: Erdogan’s White House visit could bring defense deals (Boeing, Lockheed Martin) and NATO tensions remain over Russia.
Implication for S&P 500 trading:
Near-term tone is cautious, with yields back up and Fed easing hopes questioned.
Watch jobless claims for confirmation of labor resilience and core PCE tomorrow as the next major directional driver.
Shutdown risks add headline volatility, while defense sector stocks could outperform if US–Turkey talks deliver aircraft orders.
Key Support and Resistance Levels
Resistance Level 1: 6670
Resistance Level 2: 6700
Resistance Level 3: 6747
Support Level 1: 6550
Support Level 2: 6530
Support Level 3: 6500
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.