SPX: S&P 500 Futures steady as Wall Street hits new high
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Key Highlights
Record Highs: S&P 500 and Nasdaq close at all-time highs; Dow slips. Strong Jobs Data: US Nonfarm Payrolls of 227,000 boost investor sentiment.
Trump Effect: Market buoyed by optimism over policy, AI, and crypto appointees.
Wall Street’s Rally Rolls On
S&P 500 futures held steady early Monday, reflecting investor caution after last week’s powerful rally. On Friday, the S&P 500 and Nasdaq Composite marked record closes, riding a wave of optimism fueled by strong economic data and President-elect Donald Trump’s market-friendly policies. In contrast, the Dow Jones Industrial Average slipped, logging a minor weekly loss.
Jobs Data Supports Bullish Sentiment
November’s Nonfarm Payrolls report showed robust growth, with 227,000 new hires, surpassing estimates by 25,000. This fueled expectations of a resilient economy even as rate cuts loom, encouraging a “buy everything” mentality across equities.
Trump’s Strategic Picks Add Fuel
Donald Trump’s appointments continue to drive market enthusiasm. The announcement of David Sacks as White House AI and Crypto Czar not only boosted confidence in innovation-led growth but also supported Bitcoin’s meteoric rise toward $100,000.
Crypto’s Connection to Risk Assets
The Bitcoin rally remains a key narrative, with traders speculating on prices hitting $125,000. This reinforces broader risk appetite, with digital assets increasingly viewed as part of a diversified growth strategy.
S&P 500 Futures Outlook
Support Levels:
Immediate support at 4,575, with a stronger base around 4,530.
Resistance Levels:
Upside capped at 4,620. A breakout could signal a move toward 4,650 in the near term.
Looking Ahead
The S&P 500 rally shows little sign of fatigue, buoyed by policy optimism, strong labor market data, and excitement around emerging technologies. Investors will now turn their attention to this week’s Consumer Price Index (CPI) data for insights on inflation trends ahead of the Fed’s December meeting.
Record Highs: S&P 500 and Nasdaq close at all-time highs; Dow slips. Strong Jobs Data: US Nonfarm Payrolls of 227,000 boost investor sentiment.
Trump Effect: Market buoyed by optimism over policy, AI, and crypto appointees.
Wall Street’s Rally Rolls On
S&P 500 futures held steady early Monday, reflecting investor caution after last week’s powerful rally. On Friday, the S&P 500 and Nasdaq Composite marked record closes, riding a wave of optimism fueled by strong economic data and President-elect Donald Trump’s market-friendly policies. In contrast, the Dow Jones Industrial Average slipped, logging a minor weekly loss.
Jobs Data Supports Bullish Sentiment
November’s Nonfarm Payrolls report showed robust growth, with 227,000 new hires, surpassing estimates by 25,000. This fueled expectations of a resilient economy even as rate cuts loom, encouraging a “buy everything” mentality across equities.
Trump’s Strategic Picks Add Fuel
Donald Trump’s appointments continue to drive market enthusiasm. The announcement of David Sacks as White House AI and Crypto Czar not only boosted confidence in innovation-led growth but also supported Bitcoin’s meteoric rise toward $100,000.
Crypto’s Connection to Risk Assets
The Bitcoin rally remains a key narrative, with traders speculating on prices hitting $125,000. This reinforces broader risk appetite, with digital assets increasingly viewed as part of a diversified growth strategy.
S&P 500 Futures Outlook
Support Levels:
Immediate support at 4,575, with a stronger base around 4,530.
Resistance Levels:
Upside capped at 4,620. A breakout could signal a move toward 4,650 in the near term.
Looking Ahead
The S&P 500 rally shows little sign of fatigue, buoyed by policy optimism, strong labor market data, and excitement around emerging technologies. Investors will now turn their attention to this week’s Consumer Price Index (CPI) data for insights on inflation trends ahead of the Fed’s December meeting.