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S&P 500 Index ($SPX) Index Forecast: Down 0.4% Today

Morpher AI identified a bearish signal. The index price may continue to fall based on the momentum of the negative news.

What is S&P 500 Index?

The S&P 500 (SPX) is a stock market index that measures the performance of 500 large companies listed on stock exchanges in the United States.

Why is S&P 500 Index going down?

SPX index is down 0.4% on Sep 3, 2024 9:15

  • A well-known market bear, John Hussman, warns of a potential recession based on economic indicators, contributing to bearish sentiment and a downward movement in the S&P 500.
  • Despite the bearish outlook, the S&P 500 managed to recover in August, closing the month with a 2% gain, showing resilience in the face of economic uncertainties.
  • The Federal Reserve's inflation data showing easing price pressure and positive news of divestment from Intel contributed to a 1% jump in the S&P 500, countering some of the bearish sentiment.
  • Overall, the market movement of the S&P 500 today reflects a mix of concerns about a possible recession, economic indicators, and positive news from specific companies like Intel, leading to a bearish trend despite recent monthly gains.

SPX Price Chart

SPX Technical Analysis

SPX News

A notorious market bear who called the 2000 and 2008 crashes shares 2 charts showing the US economy is on the threshold of recession — and warns of 70% potential downside for the S&P 500

John Hussman says these two economic indicators show the US economy could be on the brink of recession.

https://www.businessinsider.com/stock-market-crash-recession-indicators-labor-market-rate-cuts-hussman-2024-8

0 News Article Image A notorious market bear who called the 2000 and 2008 crashes shares 2 charts showing the US economy is on the threshold of recession — and warns of 70% potential downside for the S&P 500

Eventful August sees S&P plunge, then go into recovery mode to clock +2% monthly gains

The S&P 500 (SP500) on Friday climbed 2.28% for August, while its accompanying SPDR S&P 500 ETF Trust (SPY) was up 2.34%. Read more here.

https://seekingalpha.com/news/4145685-eventful-august-sees-sp-plunge-then-go-into-recovery-mode-to-clock-2-monthly-gains?feed_item_type=news

1 Missing News Article Image Eventful August sees S&P plunge, then go into recovery mode to clock +2% monthly gains

Final Trade: CRWD, ROIV, SPY, WMT

The final trades of the day with the Fast Money traders.

https://www.cnbc.com/video/2024/08/30/final-trade-crwd-roiv-spy-wmt.html

2 News Article Image Final Trade: CRWD, ROIV, SPY, WMT

S&P 500 Gains and Losses Today: Intel Soars as Chipmaker Eyes Foundry Divestment

The S&P 500 jumped 1% on Friday, Aug. 30, after the Federal Reserve''s preferred inflation gauge showed price pressure easing in July.

https://www.investopedia.com/s-and-p-500-gains-and-losses-today-intel-soars-as-chipmaker-eyes-foundry-divestment-8704498

3 News Article Image S&P 500 Gains and Losses Today: Intel Soars as Chipmaker Eyes Foundry Divestment

Stock market today: Wall Street climbs as S&P 500 closes out fourth-straight winning month

NEW YORK – THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks on Wall Street bounced back from a midafternoon fade Friday, leaving the market on pace to close out its fourth-straight winning month with more gains. The S&P 500 was up 0.7%, with about 76% of the stocks in the index The post Stock market today: Wall Street climbs as S&P 500 closes out fourth-straight winning month appeared first on The Lethbridge Herald - News and Sports from around Lethbridge .

https://lethbridgeherald.com/business/2024/08/30/stock-market-today-wall-street-climbs-as-sp-500-closes-out-fourthstraight-winning-month/

4 Missing News Article Image Stock market today: Wall Street climbs as S&P 500 closes out fourth-straight winning month

S&P 500 Index Price History

23.07.2024 - SPX Index was down 0.3%

  • The Federal Reserve's indication of imminent rate cuts has led to market optimism and a near-record high for the S&P 500, but the failure to break above the resistance zone may have caused uncertainty among investors.
  • Speculation surrounding Powell's speech at Jackson Hole and NVIDIA's upcoming earnings report has created a sense of anticipation in the market, with traders closely monitoring these events for potential market movements.
  • The revision of targets by an economist, suggesting a recession could be on the horizon, may have added to the cautious sentiment among investors, contributing to the bearish movement in the S&P 500.
  • Despite a poor day yesterday, US stock futures are pointing to a strong bounce back, indicating a potential shift in market sentiment that could impact the S&P 500's performance in the near future.

23.07.2024 - SPX Index was down 0.4%

  • Initially, there was optimism in the market due to hints of imminent rate cuts by the Federal Reserve, pushing tech stocks higher and approaching a record high.
  • Despite expectations of a potential breakout to new highs triggered by Powell's speech at Jackson Hole, the market encountered resistance and uncertainty, leading to a bearish movement.
  • Speculation surrounding Nvidia's upcoming earnings release, revised targets for Bitcoin, and concerns about a possible recession may have contributed to market volatility.
  • Following a recent poor performance, US stock futures signaled a recovery, reflecting market resilience in the face of today's bearish movement.

28.07.2024 - SPX Index was down 0.5%

  • The SPX witnessed a bearish movement today, influenced by mixed market sentiment.
  • The Dow Jones achieved new record highs, demonstrating robust performance.
  • NASDAQ made modest gains amidst calm trading conditions.
  • Concerns related to geopolitics and uncertain data are contributing to the consolidation of the S&P 500.
  • Market movement was impacted by the CB Consumer Confidence report, leading to record highs for the Dow and declines for the S&P 500 and Nasdaq.

29.07.2024 - SPX Index was up 0.5%

  • The uptick in the S&P 500 index is linked to optimism surrounding undervalued small-cap stocks.
  • The relief surge seen on Wall Street, particularly post-Nvidia's earnings release, has bolstered market positivity, supported by strong tech sector earnings.
  • Record-breaking milestones in the Dow Jones, alongside robust performance in major indices like the Nasdaq and SP500, have further fueled the bullish outlook.
  • Market participants are closely observing various economic indicators, such as GDP data and inflation metrics, for potential impact on market trends in the near future.

30.07.2024 - SPX Index was up 0.9%

  • The S&P 500 had a strong bullish movement today, with positive gains.
  • Investor optimism was fueled by hopes of a potential rate cut.
  • The correlation between Bitcoin and the S&P 500 was evident today, with both assets experiencing rebounds.
  • Despite some bearish sentiments expressed by BCA, the market sentiment today was predominantly bullish, driven by positive economic indicators and investor confidence.

03.08.2024 - SPX Index was down 0.4%

  • A well-known market bear, John Hussman, warns of a potential recession based on economic indicators, contributing to bearish sentiment and a downward movement in the S&P 500.
  • Despite the bearish outlook, the S&P 500 managed to recover in August, closing the month with a 2% gain, showing resilience in the face of economic uncertainties.
  • The Federal Reserve's inflation data showing easing price pressure and positive news of divestment from Intel contributed to a 1% jump in the S&P 500, countering some of the bearish sentiment.
  • Overall, the market movement of the S&P 500 today reflects a mix of concerns about a possible recession, economic indicators, and positive news from specific companies like Intel, leading to a bearish trend despite recent monthly gains.

25.06.2024 - SPX Index was down 0.8%

  • The increase in traders being net-long on the US 500, combined with a bearish contrarian trading bias, indicates a sentiment shift towards a bearish outlook on the market.
  • Mixed earnings reports and market volatility, particularly the rotation from tech to small-caps, have contributed to the bearish movement in the S&P 500.
  • The observation of potential weakness in the SPX 500, which could trigger a medium-term global risk-off event, adds to the negative sentiment surrounding the index.
  • Despite attempts to stabilize, the S&P 500 continues to exhibit noisy behavior, indicating ongoing uncertainty and potential downside risk in the market.

30.06.2024 - SPX Index was down 0.4%

  • Despite the resilience shown by Nasdaq and S&P 500 amid the Dow Jones decline, the overall market sentiment was impacted by the bearish movement in the S&P 500.
  • The anticipation of earnings reports from major companies like Microsoft and AMD, along with speculations about potential Fed rate cuts, created a mixed sentiment in the market.
  • The inverse head and shoulders pattern indicating a potential breakout to 5,500 in the S&P 500 might have influenced traders' decisions, contributing to the bearish movement.
  • The support zone testing and the upcoming major releases could play a crucial role in determining whether the bearish trend in the S&P 500 continues or if there is a potential reversal in the near future.

01.07.2024 - SPX Index was down 0.4%

  • The bearish movement in the S&P 500 today could be attributed to:
  • Historical trends suggesting a potential decline in September following a sideways movement in August.
  • Market caution ahead of the release of the July non-farm payrolls report, introducing uncertainty.
  • The Nikkei 225 giving back its gains, possibly impacting global market sentiment.
  • Despite positive earnings from Meta Platforms, Inc., investors may be adopting a "wait-and-watch" approach before major tech companies like Amazon, Apple, and Intel report their earnings.

05.07.2024 - SPX Index was down 3.2%

  • The S&P 500 had its worst July in a decade, indicating a challenging market environment for investors.
  • Heavy deleveraging and weak economic data, such as the US ISM Manufacturing PMI and unexpected rise in unemployment rate, contributed to the bearish market movement.
  • The market sentiment was further impacted by a significant crash in the crypto market, with XRP price erasing gains amidst the biggest downturn in a year.
  • Traders' uncertainty and changing expectations regarding rate cuts by the Federal Reserve added to the market volatility and pessimism, leading to a sharp selloff in the S&P 500.

05.07.2024 - SPX Index was down 2.0%

  • The S&P 500 saw a decline of over 2% for the week, with losses in three out of five sessions, signaling a shift in market sentiment towards fears of a hard landing and potential recession.
  • The VIX, a measure of market volatility and investor fear, spiked to its highest levels since 2022, reflecting growing anxieties among investors.
  • Concerns over the tech sector, particularly chipmakers like Intel and Nvidia, contributed to the market downturn. Intel's poor quarterly performance and soft guidance, along with warnings of Nvidia being in a bubble, added to the overall market fear and led to the bearish movement in the S&P 500.

02.07.2024 - SPX Index was down 3.9%

  • The S&P 500 is facing pressure from bears as critical support levels are being threatened, indicating a potential downward trend in the market.
  • Traders are closely monitoring the formation of a head and shoulders pattern on the index's chart, suggesting a possible major selloff in the near future.
  • The market sentiment seems cautious as investors assess whether the index will rebound at the 20-day moving average or if further decline towards critical support levels, such as 16.5K on the Nasdaq, is imminent.
  • The overall market volatility and uncertainty may be contributing to the bearish movement, as traders evaluate their investment strategies amidst the current market conditions.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.