• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy S&P 500 Futures Slip 0.51%
Economy

S&P 500 Futures Slip 0.51%

by November 15, 2024
by November 15, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

U.S. stock futures dropped early Friday as the postelection rally showed signs of faltering and the Federal Reserve indicated a cautious stance on further interest rate cuts. Dow Jones Industrial Average futures fell 156 points, or 0.36%, while S&P 500 and Nasdaq 100 futures declined 0.51% and 0.76%, respectively.

Tech stocks saw mixed fortunes, with chip equipment manufacturer Applied Materials sliding over 8% after issuing weak revenue guidance for the current quarter. Conversely, Domino’s Pizza surged more than 7% following news that Berkshire Hathaway had taken a stake in the company, signaling investor confidence in the fast-food giant.

This follows a negative session on Thursday, where the Dow lost over 200 points, and both the S&P 500 and Nasdaq Composite fell by approximately 0.6%. Major indexes are poised to close the week lower, eroding last week’s postelection gains spurred by Donald Trump’s victory. Notably, the Nasdaq Composite has declined 0.9% this week, while the S&P 500 and Dow have fallen 0.8% and 0.5%, respectively.

Despite the broader market pullback, the Dow achieved a milestone earlier in the week, closing above 44,000 for the first time. However, concerns over the Federal Reserve’s restrained approach to monetary easing and mixed corporate earnings have tempered investor optimism. This underscores the fragile nature of the recent rally amid evolving economic and political uncertainties.

S&P 500 Technical Analysis

The 15-minute chart of the S&P 500 Index (SPX) shows a bearish trend over recent sessions, with a consistent decline from earlier highs around 6,017.31 to the current level near 5,949.16. The pattern indicates selling pressure as the index struggles to hold any rebound attempts, suggesting weak investor sentiment in the short term.

The Relative Strength Index (RSI) is at 36.93, which is below the neutral 50 mark and approaching oversold territory (30 or below). This level typically signals that the selling momentum could be nearing exhaustion, but it does not confirm a reversal without further evidence. The declining RSI trend suggests that the bears still have control, though a reversal could be on the horizon if the index dips further and the RSI enters oversold conditions.

Key support is seen near 5,930, a level tested several times during the chart period. A break below this level could trigger further downside pressure. On the other hand, if the S&P 500 rebounds, it could face resistance around 5,980. For now, the technicals suggest caution, as the index may continue its downward trend unless it finds strong support or positive momentum to change course.

The post S&P 500 Futures Slip 0.51% appeared first on FinanceBrokerage.

You Might Also Like
  • Could Bitcoin Reach $200000? Market & Expert Insights
  • Graham slams soft-on-crime Bragg for targeting Trump while New Yorkers ‘lucky’ not to get ‘mugged’
  • White House press secretary slips up and says US averages 1 shooting a week, after saying more than 1 per day
  • Johnson defends vote to formalize Biden impeachment inquiry amid White House ‘impasse’: ‘We have no choice’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Alibaba Stock Rises 5% in Premarket
next post
Spotting a Bullish Opportunity in Zscaler (ZS) with OptionsPlay Strategy Center

You may also like

Biden admin continues push for two-state solution as critics warn:...

January 12, 2024

Biden admin’s drive for green energy leads to accusations of...

December 17, 2023

Defense Secretary Austin transferred to critical care unit after hospitalization...

February 12, 2024

Vice President Kamala Harris attempts to explain AI in latest...

July 13, 2023

Israeli soldiers reported killed; first in Gaza since ground incursion...

November 1, 2023

SafeMoon and Litecoin: New Targets and Support Levels

October 22, 2024

Can Joe Biden be replaced as the sitting president?

June 29, 2024

Florida Rep. Greg Steube hospitalized after falling off roof: report

January 19, 2023

IRS whistleblowers to testify on ‘undeniable pattern of preferential treatment’...

July 19, 2023

House Speaker Kevin McCarthy to join Las Cruces rally for...

April 1, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Biden seeks to keep Congressional Black...

    July 9, 2024

    Trump says it was ‘made clear’...

    April 26, 2024

    Ramaswamy warns GOP on several ‘hard...

    July 26, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here