News

S&P 500 Price Analysis: US stocks cling to gains, challenge 2500 mark

  • S&P 500 is bouncing off 37-month lows and is challenging the 2500 level.
  • Investors are cheering that the Coronavirus relief bill has been passed. 
  • This Monday, the Fed expanded its Quantitative Easing operation which is the largest stimulus scheme ever created.
 
 

S&P 500 daily chart

 
Markets are reacting positively as investors find relief in the Coronavirus relief stimulus by the US government. The S&P 500 is correcting up sharply after suffering one of the most dramatic decline in history. The pullback up is extending to the upside as bulls broke above the 2500 level while resistance can be seen near the 2600 and 2700 figures on the way up. On the other hand, support is seen near the 2400 and 2300 levels. This Monday, the Fed announced the extension of its QE program to manage the damage created by the coronavirus crisis. 
   
 

Additional key levels 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.