Both the Nasdaq 100 and the S&P 500 have kept a steady pace of growth in the last six months. Recession fears, bank failures and other risks don't seem to have dampened the spirits of US stock market investors.
But this week could reveal some cracks.
It's an unusual five days for the US stock market, with a shortened session on Monday, before the July 4th celebrations. This means there will likely be less time to adapt to developments in the run-up to the jobs data that will be announced on Thursday and Friday.
The S&P 500 has broken above some solid resistance levels in the last few weeks, making higher highs and taking full advantage of the overall optimism.
The AI-driven bullishness also buoyed the Nasdaq 100.
With some indicators pointing towards overbought levels, this particular index could be up for some additional scrutiny this week.
Where do you think U.S. stock indices will be headed after this week's festivities and jobs data? Let us know in the comments below.
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Jobs to Propel U.S. Stock Market in July?
Published 07/04/2023, 04:45 AM
Updated 09/11/2023, 01:40 PM
Jobs to Propel U.S. Stock Market in July?
Latest comments
looks like inventories are high.
get a load of this five head 🤡
It will create some volatility nevertheless. Indices due for correction. What will trigger it remains to be seen. The job report might be the catalyst.
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