- The S&P 500 falls 0.35% on the day, consolidating within the operating range of the previous session.
- Today’s US economic agenda considers speeches by FOMC members Neel Kashkari and Raphael Bostic.
- Investors will focus on the Fed minutes to be released on Wednesday.
The S&P 500 hit a daily high of 5,744, where it found aggressive sellers that drove the index to a daily low of 5,723. Currently, the S&P 500 is trading above 5.725, losing 0.35% daily.
The S&P 500 is trading in negative territory pending the speeches of the FOMC members
Minneapolis Federal Reserve President Neel Kashkari will participate in a question and answer session moderated by the Bank Holding Company Association (BHCA) Fall Seminar in Edina, MN.
Separately, Federal Reserve Bank of Atlanta President Raphael Bostic will moderate a conversation about the business of professional sports as part of the Atlanta Fed’s Leading Voice series.
Investors will focus their attention on the release of the Federal Reserve minutes. The FedWatch tool shows a probability of 83.5% of placing the reference rate in a range between 4.50%-4.75% at the next meeting on November 7.
Levels to consider in the S&P 500
The S&P 500 remains within a consolidation between 5,771 and 5,672, awaiting the next directional move.
To the upside, the key resistance is at 5,771, the all-time high reached on September 26. On the downside, we see the important support zone at 5,600, which converges with the minimum of September 16 and with 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.
