US equities remain relentless in closing at new record highs

US equities remain relentless in closing at new record highs

As we approach the fall season, stocks have maintained great strength while looking poised for more gains in the near future. The S&P 500 reached as high as 4540s while the Nasdaq traded close to the 15700 area. The Dow Jones was lagging behind and remained in consolidation yet anything is possible at this point.

 

Technology played a role in the gains with Microsoft and Netflix jumping 1.3% while Apple gained about 3%. Double gains were experienced by Affirm Holdings, a company that partnered with Amazon to offer the buy now, pay later concept.

 

Despite the gains and positivity, risks remain including inflationary pressures and new Covid variants including the infamous Delta. Nonetheless, the global corporate environment, especially in the US, remains resilient and strong in the face of the many challenges that took place so far.

 

Looking ahead, stocks could remain range-bound as traders and investors remain sidelined ahead of Friday’s NFP release which includes the unemployment rate and the average hourly earnings. NFP is expected at 750K versus a previous figure of 943K while the unemployment rate is set to reach 5.2% versus a previous number of 5.4%. Another major figure is the ADP employment data set for Wednesday and expected at 620K versus a previous figure of 330K. Strong employment data could indicate that the recovery is on point but will not completely eliminate currently discussed and future risks.

 

A quick look at other markets shows a weakening Dollar with the Euro above 1.1800 while the British pound approaches 1.3800. The Dollar-Yen hovering under 110.00 while Gold moves towards 1820. Oil remains capped by the 69.50 area and currently trades around the mid 68s.

 

With CFI, you can trade thousands of CFDs on Stocks, Forex, Commodities, Indices, and ETFs from one single platform. If you are new to the financial markets, you can start with a risk-free demo account and for the more seasoned traders, opening a real account is a straightforward process that requires very little time. CFI offers its clients many services and features including free daily webinars, dedicated account managers, daily technical reports, and highly competitive conditions that include fast execution and spreads from zero pips.

 

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The content present in this article reflects the opinions and views of the author and does not necessarily reflect the position of CFI. The material published on this blog is provided for informational purposes only and should not be considered as investment advice. The Company is not responsible for the decisions and choices of the investor who has full and free will to make decisions that they see appropriate upon the investor’s sole discretion.

Credit Financier Invest (Mauritius) Ltd is an award winning global financial markets provider with over 23 years of experience and regulated entities in several jurisdictions, focused on offering impeccable execution and trading conditions including very low spreads, professional services, dedicated support and powerful tools.
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We would like to remind that while we endeavour to provide best possible services, CFI provides execution only services and any information, reports, opinions, commentary or other materials he receives from CFI directly or from its employees or through any analytical tools provided to him or third party research provided to him from the Company shall not be deemed as investment advice and it cannot be relied upon to make investment decisions. The Client commits to make his own research and from external sources as well to make any investment. The Client accepts that CFI will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The contents of any report provided should not be construed as an express or implied promise, as a guarantee or implication that clients will profit from the strategies herein, or as a guarantee that losses in connection therewith can, or will be limited.


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