- The S&P 500 operates in positive territory, gaining 0.81% daily, along with the Nasdaq 100 and the Dow Jones.
- Fed members Philip Jefferson and Raphael Bostic will deliver speeches today.
- Investors’ attention will be on the Fed Minutes tomorrow.
The S&P 500 hit a daily low of 5,687, attracting buyers who took the index to a session high of 5,747. At the time of writing, the S&P 500 is trading at 5,740, gaining 0.82% on the day.
S&P 500 trades with gains ahead of Fed Minutes release
Investors will be watching today’s speeches by Federal Open Market Committee member Raphael Bostic and Federal Reserve Board of Governors Philip Jefferson for clues about the future of policy. monetary policy prior to the publication of the Federal Reserve Minutes tomorrow.
The CME’s FedWatch tool places the probabilities of placing the reference rate in a range between 4.50%-4.75% at 87.3%, while indicating a 12.7% probability of placing rates between 4.75% and 5.00%.
Levels to consider in the S&P 500
The S&P 500 has consolidated in a sideways range between the all-time high reached on September 26 at 5,771 and the low on October 2 at 5,672.
On the downside, the key support zone is at 5,600, a round number that converges with the low of September 16 and the 50% Fibonacci retracement.
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.
