Market Overview Analysis by Michael Kramer covering: Nasdaq 100, S&P 500, Invesco QQQ Trust, Crude Oil WTI Futures. Read Michael Kramer's latest article on Investing.com
Index, expected to be released on September 6 at 10 AM. Analysts predict that the services composite will dip slightly to 52.5 from 52.7.
More importantly, data from the past week seemed to alleviate concerns about an immediate economic slowdown. As a result, GDP models, including the Atlanta Fed’s GDPNow model, have remained largely unchanged. The GDPNow model currently predicts a 5.6% growth rate for the third quarter, down slightly from the previous estimate of 5.9%.This contributed to higher yields on Friday, continuing the trend observed over the previous few weeks. Theled the way higher once again.
is in the process of relinquishing its entire gains since June 1. This will likely result in the index retracing back to the 4,100 to 4,200 range.to trade down, potentially falling below $330 over the next several weeks.
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