Some may choose to move to the sidelines ahead of Thursday’s consumer price inflation report which is expected to show a further easing in pricing pressure. Some key earnings reports are also expected to drop over the next two sessions, which is likely to give early indications regarding how this reporting season will pan out.
| Futures | Performance (+/-) |
| Nasdaq 100 | -0.08% |
| S&P 500 | -0.06% |
| Dow | -0.07% |
| R2K | -0.13% |
Cues From Last Session:
The Nasdaq Composite and the S&P 500 hovered in positive territory throughout the session, while the Dow Jones Industrial Average experienced volatility before closing modestly higher.
Insights From Analysts:
The current bull market started on Oct. 12, 2022, and as its second anniversary nears, a strategist suggested there be could many more years of gains. Carson Group’s Chief Markey Strategist Ryan Detrick said the S&P 500 Index is up 61% so far in this bull market. On average, a bull market lasts about 5.5 years and the average gain clocked is 181%.
The strategist said the bull market may not end soon. Sharing a graphic showing performances of the index during the previous bull markets, he said, “Many more years of gains would be perfectly normal.”
See also: Best Futures Trading Software
Upcoming Economic Data:
Stocks In Focus:
Commodities, Bonds And Global Equity Markets:
Crude oil futures traded modestly lower following Tuesday’s sharp retreat and gold futures were little changed. Bitcoin (CRYPTO: BTC) was down less than a percent at a little over $62K. The yield on the benchmark 10-year Treasury note was down 1.9 points to 4.016%.
The Asian stocks had another mixed outing on Wednesday, with China’s Shanghai Composite slumping 6.62% and Hong Kong’s Hang Seng Index falling 1.38%. The lack of any further announcements concerning additional stimulus weighed down on these two markets. On the other hand, the Japanese market advanced. The South Korean market was closed for a public holiday.
The European markets were firmer in early trading on Wednesday.
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