- The S&P 500 stock index rises 0.04% at the end of Wednesday’s session.
- Warner Bros Discovery (WBD) shares soar 6.40%, reaching nearly nine-month highs.
- Albermale Corporation (ALB) shares rise 5.54%, reaching two-day highs.
- The president of the St. Louis Federal Reserve, Alberto Musalem, projects economic growth in the United States close to 2% in the short term.
The S&P 500 hit a daily low of 5,965, finding buyers that took the index to a day’s high of 6,007. At the time of writing, the S&P 500 is trading at 5.986, gaining 0.04% at the market close.
Warner Bros Discovery and Albemarle Corporation take the S&P 500 into positive territory
Warner Bros Discovery (WBD) shares registered a rise of 6.40%, trading above $9.84 and reaching a maximum not seen since February 21. On the same note, Albermale Corporation (ALB) gains 5.54%, currently trading at $108.42, visiting highs from November 11.
On the other hand, president of the St. Louis Federal Reserve, Alberto Musalem gave a speech to the media today, highlighting the strength of the economy towards a solid fourth quarter. Likewise, he noted that he expects growth close to a rate of 2% in the near future.
Investors will be watching Federal Reserve Chairman Jerome Powell’s remarks tomorrow for clues on the direction of monetary policy in the short term.
Levels to consider in the S&P 500
The S&P 500 established resistance in the short term, given by the all-time high reached on November 11 at 6,026. To the south, we see the first support area at 5,840, an area close to the 50% Fibonacci retracement. The Relative Strength Index is at 64.11, above the midline of 50, showing dominance of buyers in the short term.
S&P 500 4-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
