The S&P 500 closes down after reaching new historical maximums

  • The S&P 500 share index decoced 0.06% today, operating at the time of writing at 6,293.
  • The shares of Molina Healthcare (MOH) collapses 10.41%, falling on October 1, 2020 in 182.09 $.
  • The titles of Elevance Health (ELV) lose 8.38% in the day, reaching minimum of November 2 at 276.41 $.
  • The feeling of the consumer of the University of Michigan improves 61.8 in July compared to 61.5 expected.

The S&P 500 reacted the decline after reaching a historical maximum in 6,316, finding vendors that dragged the index to a minimum of the day in 6,283. Currently, the S&P 500 quotes at 6,293, losing 0.06% in the last day of the week.

The S&P 500 records new historical maximums on the last day of the week

According to information presented by the United States Census Office, construction permits increased to 1,397 million in June, above the estimated 1.39 million and 1,394 million observed in May.

At the same time, the feeling index of the preliminary consumer of the University of Michigan rose 61.8 in July, improving the 61.5 expected and the 60.7 recorded in June.

On the other hand, the titles of Molina Healthcare (MOH) fall 10.41%, visiting minimal not seen since October 1, 2020 in 182.09 $, signing its second consecutive day down.

The actions of Elevance Health (Elv) slide 8.38% daily, reaching minimum of November 2 in 276.41 $, spinning two consecutive sessions with losses.

The S&P 500 goes back 4 points, consolidating within the range of July 17 in 6,293.

Levels to be considered in the S&P 500

The S&P 500 formed a short -term support in 5,917, given by the minimum of June 19 in convergence with the recoil at 78.6% of Fibonacci. The following key support is at 5,742 minimum of May 23. Upwards, we project a benefits in 6,700, a closed number that converges with the extension to 127.2% of Fibonacci.

S&P 500 DAILY GRAPH

S&P 500 – Frequently Questions

The S&P 500 is a very often stock index that measures the yield of 500 public companies and is considered a wide measure of the US stock market. The influence of each company on the calculation of the index is weighted based on stock capitalization. This is calculated by multiplying the number of bought shares of the company for the price of the action. The S&P 500 index has achieved impressive yields: 1.00 $ invested in 1970 would have produced a yield of almost $ 192.00 in 2022. The average annual profitability since its creation in 1957 has been 11.9%.

Companies are selected by Committee, unlike other indices that are included based on established standards. Even so, they must fulfill certain eligibility criteria, the most important of which is stock market, which must be equal to or greater than 12.7 billion dollars. Other criteria are liquidity, domicile, stock capitalization, sector, financial viability, quotation time and representation of the sectors of the United States economy. The nine largest companies in the index represent 27.8% of the stock market capitalization.

There are several ways to operate with the S&P 500. Most of the Stred Betting retail runners and platforms allow operators to use contracts per difference (CFD) to make bets on the price direction. In addition, indexed funds, investment funds and quoted funds (ETF) that follow the price of the S&P 500 can be purchased. The most ETF liquid is the ETF of the London Stock Exchange. The most ETF liquid is the State Street Corporation Spy. The Chicago Mercantile Exchange (CME) offers futures contracts on the index and the Chicago Board of Options (CMOE) offers options, as well as ETF, ETF Inverse and ETF leverage.

There are many factors that promote S&P 500, but mainly it is the aggregate performance of the companies that compose it, revealed in their reports of quarterly and annual results. American and world macroeconomic data also contribute, since they influence investors’ confidence, which is positive drives profits. The level of interest rates, set by the Federal Reserve (FED), also influences the S&P 500, since it affects the cost of credit, which is largely depending on many companies. Therefore, inflation can be a determining factor, as well as other parameters that influence the decisions of the Federal Reserve.

Source: Fx Street

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