Has the S&P 500 hit a bottom? [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The week starts with an improved sentiment. The S&P500 just avoided to close in the bear market last Friday, but the index sank its teeth into the bear zone for the first time since the pandemic selloff, and fell for the seventh straight week, for the first time since 2001.

US futures are in the positive this Monday, as some investors see opportunity in the actual market dip. But the trading conditions will likely remain choppy, and gains may remain short lived.

In the medium run, there is a stronger case building for a further retreat in the S&P500 stocks. Investors now eye a return to the 3500/3600 range, according to the latest Bloomberg survey.

In commodities, gold and oil are higher on Monday, as the US dollar is softer across the board.

On the individual stock front, Didi shareholders ill certainly vote to quite the NYSE, and among companies that will report earnings this week, Nvidia and Alibaba will certainly be under the spotlight!

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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