The S&P 500 sank for the second week in a row last week as the utility sector led the index by gaining 2.7%, while the information technology sector’s
as the partial strike is in its fourth day – a host of fascinating indices and surveys will be released this week on the US housing market, the manufacturing sector and the services sector.
Then on Wednesday, Existing Home Sales for August are expected to rise by 30,000 MoM to 4.1 million. "We think investors are in favor of DIS shedding these lower-growth linear assets even though sales multiples would be below DIS at 12x EV/EBITDA."The S&P 500 index appears to be in a downtrend since reaching 4,607 on July 27. A top trendline since then shows that the index has sold off on two occasions since retouching that descending trendline – September 1 and September 14.
However, if the Instacart IPO goes off as planned or the Fed delivers optimistic chatter on Wednesday, a break of that top trendline will send bulls piling back in to push the index back to the 4,590 to 4,637 resistance range.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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