Wall Street is set for a higher open today with S&P 500 futures up 17.10 points as of 8:49 a.am. Signs of progress in trade talks between the U.S. and China pushed world stocks higher. The markets will now wait for several key U.S. economic data points to be released later today.
The S&P 500 did have a sideways trading day and managed to close at another new high for the year at 2867.24. We feel Tuesday slow trading could potentially be the pause that refreshes markets, and we not looking for more new highs in the S&P 500.
Today traders will get the National Employment Report from ADP which is a private employee number. Traders will also get the PMI, Purchasing Managers Index, and both could provide more data on the health of the U.S economy.
John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJ
Dominguez & Jones Wealth Management Group
The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum Oscillator that measures the speed and changes of price movements.
The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S stock market. Past performance may not be indicative of future results. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investors’ results will vary. Opinions expressed are those of the author John N. Lilly III, and not necessarily those of Raymond James. “There is no guarantee that these statements, onions or forecast provided herein will prove to be correct. “ The information contained was received from sources believed to be reliable, but accuracy is not guaranteed. Investing always involves risk and you may incur a profit or loss. No investment strategy can guarantee success. The charts and/or tables presented herein are for illustrative purposes only and should not be considered as the sole basis for your investment decision.