Global Stock Market Today

Stocks in Asia were little changed as investors adopted a cautionary tone ahead of the FOMC event. The Shanghai index declined 0.40%. The HSI stock index also moved lower by 0.21%, while the Korean Kospi fell 0.42%. The Japanese Nikkei Index rose 0.09%.

The FOMC Day 

Higher volatility is the name of the game today and day traders are likely to bank on this. The Federal Reserve will announce its monetary policy decision and the expectations are that the Fed will keep the interest rates unchanged. The element of surprise can come if the Fed increases its growth forecast and by doing only that, the dollar could soar.

Dow Index and S&P500 Index: Market Breadth

It was another up day for the stock market yesterday. The Dow Jones breadth improved largely and 70% of the Dow Jones stocks traded above their 200-day moving average yesterday. 

The S&P 500 stock breadth also had a decent improvement but not as much as the Dow. 62% of the shares traded above their 200-day moving average yesterday.

Dow Jones and S&P 500 Futures Today

The Dow Jones futures are swinging between gains and losses. At the time of writing this report, the Dow Jones futures were trading higher by 10 points. Traders are likely to pay close attention to the U.S. retail sales data, which is at 1:30 BST. The forecast is for 1.0%, which is slightly lower than the previous reading of 1.9%.

The Dow Jones futures are still trading above the 50-day simple moving average on the daily time frame, which confirms that the uptrend is strongly in place. However, the price is still trading between the lows and highs of last week and in order to have a firm confirmation of the continuation of the uptrend, the price needs to break above the 28402—the high of the last week. 

The S&P 500 futures, the wider representation of the U.S. equity market, are moving higher on the daily frame, and the price has been forming a series of higher lows and higher lows. However, just like the Dow Jones, the S&P 500’s price is also trading within the high and lows of last week. This indicates that traders are still not entirely sure about the future path of this trend and the bull trend is somewhat vulnerable. 

Stock Market Rally 

The S&P 500 stock index recorded another victory yesterday, and it advanced 0.52%. The communication sector led the index higher, and eight out of 11 sectors closed higher. 

Alexion stock contributed the biggest gain, soaring 6.31%. Carnival stock was the largest drag; it fell by 10.8%. The S&P 500 stock index is up 9.7% during this quarter.

The Dow index gained only 2 points yesterday, and the Dow stocks moved the index higher by 0.01%. 17 stocks of the Dow Jones Index increased in value, and 12 shares of the Dow index moved lower. Salesforce stock advanced higher by 3.2% and was the biggest mover for the Dow, while Caterpillar stock dropped 3.2%, the biggest drag for Dow Jones industrial average index.  

The NASDAQ composite, a tech-savvy index, rose 1.43% yesterday.


Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD challenges weekly lows after mixed Durable Goods Orders

US Durable Goods Orders were up a measly 0.4% in August, missing expectations of 1.0%, although Nondefense Capital Goods Orders ex Aircraft jumped 1.8%. Equities bounce from lows, but the dollar maintains its strength.


GBP/USD loses 1.2700 as the dollar keeps rallying

GBP/USD approaches its weekly low at 1.2674 as demand for the American currency extends into the final trading session of the week. Hopes for a UK trade deal with the EU doing little for Sterling.


Gold: Finally some rest bite as XAU/USD holds at $1865 per ounce

It has not been the best week for the gold bugs as the yellow metal has fallen 4.36% since Monday. At the end of the week, the price has started to consolidate at the USD 1865 per ounce area. 

Gold News

Breaking: ​​​​​​​The IRS makes it hard to pretend you don’t have Bitcoin

The cryptocurrency holders might have a hard time trying to hide their Bitcoins or other digital assets. IRS considers changing the standard 1040 form by including a bold question on the front page:  At any time during 2020, did you sell, receive, send, exchange, or otherwise acquire any financial interest in any virtual currency? 

Read more

WTI moves back to flat and once again trades above $40 per barrel

It has been a mixed Friday for WTI as the price is moving sideways heading into the weekend. All of the excitement was last week when the OPEC+ JMMC decided to keep output levels at their current rate until December.

Oil News

Forex Majors