The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Wall Street is set to start higher on final trade of 2017
On Friday, American equities were braced for starting on a bright note on the final trade of 2017, thus wrapping up 2017, in which key Wall Street indexes demonstrated their best outcomes since 2013.
Market participants were treated to bumper revenues in the year, with ascending global economy, firm corporate earnings as well as low interest rates powering the nine-year old soar in global equities.
The market has demonstrated shocking strength notwithstanding tensions in North Korea and also political upheavals in America. As for the S&P 500, it has concluded below 1% only four times in 2017.
Additionally, the S&P technology index has appeared to be the best performing sector, gaining approximately 37% and outpacing revenues in the broader index.
The surge is widely anticipated to extend into next year, underpinned by revenues from a fresh law, lowering the tax burden on American corporations.
S&P 500 e-minis rallied 9 points being worth 64,781.
Nasdaq 100 e-minis added 18 points trading at 13,512.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.