US Open. Market Overview for 17.10.2016

Pre-Market:

The S&P 500 is trading unchanged pre-market. The DAX started the week in negative territory, losing 0.46%. Highest losing stock of the day is Henkel, at -1.65%. In contrast, Allianz gains 1.65%. Fed Chair Janet Yellen hinted on Friday, that Fed is looking to act faster on economic data in future. This could be read as a further indicator that the Fed will raise rates in December. Bank of America announced its quarterly numbers, which showed an increase in profits of 7.3%. Higher profits in bond trading and lower costs were responsible for the increase. The stock gains pre market. We expect a lighter start to Wall Street. The USD trends lower, Gold gains whilst WTI Oil is unchanged.

S&P 500

The S&P 500 is in a sideways trend. Resistance is at 2200 and support at 2115.

Nasdaq 100

The Nasdaq 100 is in a sideways trend. Resistance is at 4900 and support is seen at 4800.




RoboForex Analytical Department