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

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

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

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

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

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/

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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.