S&P 500 Index opens flat below 4,200 on Tuesday

Wall Street's main indexes opened near Monday's closing levels.
The S&P 500 Energy Index is up 1% supported by rising oil prices.

Eren Sengezer FXStreet

Major equity indexes started the second day of the week in a quiet manner ahead of the FOMC meeting and key macroeconomic data releases. As of writing, the S&P 500 Index was down 0.1% on the day at 4,185, the Nasdaq Composite was flat at 14,015 and the Dow Jones Industrial Average was losing 0.2% at 33,885.

Among the 11 major S&P 500 sectors, the Energy Index is up 0.5% supported by a 0.8% increase in US crude oil prices. On the other hand, the Materials Index is the worst performer after the opening bell, losing 0.75% on the day.

Later in the session, the Conference Board's Consumer Confidence Index will be looked upon for fresh impetus. On Wednesday, the US Federal Reserve will release its Monetary Policy Statement alongside the Interest Rate Decision.

S&P 500 chart (daily)

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD faces next resistance near 1.1930

EUR/USD has surrendered its earlier intraday advance on Thursday and is now hovering uncomfortably around the 1.1860 region amid modest gains in the US Dolla. Moving forward, markets are exoected to closely follow Friday’s release of US CPI data.

GBP/USD inching closer to 1.36

The Pound Sterling edged higher to 1.3640 on Thursday, recovering from an earlier pullback after stronger-than-expected US jobs data initially weighed on the pair. The Bank of England held rates at 3.75% at its February 4 meeting in a narrow 5-4 vote split, with four members preferring a 25 basis point cut to 3.50%.

Gold falls to near $4,900 as selling pressure intensifies

Gold price faces some selling pressure around $4,910 during the early Asian session on Friday. The yellow metal tumbles over 3.50% on the day, with algorithmic traders appearing to amplify the precious metal’s sudden drop. Traders will closely monitor the release of the US Consumer Price Index inflation report for January, which will be released later on Friday.

Ethereum investors face huge unrealized losses following price slump

US spot Ethereum exchange-traded funds flipped negative again on Wednesday after recording net outflows of $129.1 million, reversing mild inflows seen at the beginning of the week, per SoSoValue data. Fidelity's FETH was responsible for more than half of withdrawals, posting outflows of $67 million.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.