The USA500, more commonly known as the S&P 500, is showing robust performance, trading around the 5,200 level. Thursday’s market session concluded on a positive note, primarily driven by notable gains in the technology sector. This uplift in the market sentiment is largely due to recent economic data indicating a slowdown in producer price inflation, which has slightly tempered concerns over aggressive inflationary pressures.

This encouraging development came just as the financial community braces for upcoming earnings reports from major Wall Street banks. In terms of performance metrics, the Dow Jones Industrial Average advanced by 75 points, achieving a modest increase of 0.2%. Meanwhile, the S&P 500 experienced a more pronounced rise, surging by 0.89%. The NASDAQ Composite outperformed with a gain of 1.7%, reflecting heightened investor optimism in the tech sector.

The latest figures from the U.S. Bureau of Labor Statistics reveal that producer prices in March rose by a mere 0.2%, which is slightly below the 0.3% increase that analysts had anticipated. On a year-over-year basis, the rise in producer prices stood at 2.1%, also marginally lower than expected. This data provides a nuanced perspective following a report from the previous day, which highlighted a higher-than-anticipated rise in consumer inflation for March. This sequence of economic reports has dampened some hopes for a potential rate cut by the Federal Reserve in June.

In the context of these financial dynamics, an innovative AI platform has proven instrumental for investors by enabling accurate market forecasts. Remarkably, individuals leveraging this technology have managed to navigate market complexities and generate a substantial 34% Return on Investment within just the last 24 hours. This breakthrough in investment technology facilitates effective market analysis, allowing both seasoned and casual investors to maximize their potential returns with enhanced precision.

As we move forward, market participants will be keenly focused on the forthcoming earnings season, which is expected to provide further clarity on the health of corporate America and potentially influence future market directions.

Technical analysis

USA500 Analysis Technical analysis 12/04/2024

Time Frame: 1 hour

USA500 Support & Resistance Table – 12/04/2024

Support & ResistanceLevelExplanation
Resistance 25295.31Daily R2
Resistance 15273.32Daily R1
Support 15214.68Daily S1
Support 25192.69Daily S2

USA500 Indicator Table – 12/04/2024

SMA 20Buy
SMA 50Sell
SMA 100Sell
MACD( 12;26;9)Sell
RSI (14)Buy
Stochastic ( 9;6;3)Buy

USA500 Indicator / Period Table – 12/04/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)BuyBuyBuy
SMA 20BuyBuyBuy

USA500 12/04/2024 – Reference Price : 5245.20

BUYSimple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1)

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