- The S&P 500 stock index falls 0.11% today, reaching minimum of July 23 in 6,335.
- Idex Corporation (IEX) shares collapse 11.23%, reaching minimum of April 22 in 164.44 $.
- The US ADP Employment Report increases by 104,000 positions in July, improving market projections.
- The United States GDP rises to an annual rate of 3%, above the projections of analysts.
- Jerome Powell, president of the Fed, said that the independence of the Central Bank has been a good for the population after maintaining interest rates without changes.
The S&P 500 marked a daily maximum of 6,394, where it found vendors that dragged the minimum of July 23 in 6,335. At the time of writing, the S&P 500 quotes at 6,363, losing 0.11% on Wednesday.
The S&P 500 quotes with losses in the midst of Jerome Powell’s statements
Based on information presented by Automatic Data Processing (ADP), the US Employment Report recorded an increase of 104,000 people in July, improving the forecasts of 78,000 and the fall of 23,000 positions in the previous period.
On the other hand, the preliminary Gross Domestic Product of the US grew at an annual rate of 3%, above the expected 2.4% and the 0.5% decrease recorded in the previous quarter.
In another front, Idex Corporation titles (IEX) lose 11.23% on the third day of the week, visiting minimums of April 22 in 163.16 $.
IEX published its quarterly report today, obtaining revenues of 865.4 million dollars compared to 859.16 million dollars estimated by the market, as well as a gain per share of 2.07 $ compared to the $ 1.99 projected by the market.
The president of the Federal Reserve, Jerome Powell, said the economy is in a solid position after the announcement of keeping the interest rates in 4.25% – 4.50%. He added that he has not made decisions about September, since he hopes to have more infomination.
The S&P 500 spin three consecutive sessions down, backing 6 points, currently operating over 6,363.
Levels to be considered in the S&P 500
The S&P 500 formed a short -term support in 6,200, given by the minimum of July 16. The following important support is in 5,917 minimum of June 19. To the north, 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 included in 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
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.
