As expected, this week’s market was an absolute rollercoaster, and as we predicted last time we were bullish. The markets rose for the first time in a month, following the comments from the Federal Reserve as they announced they may reduce their interest rates so they don’t cause a recession. For the week S&P gained a massive push 6.5%. Crude Oil fell this week as high prices may cause a slowdown in demands.
What to expect in the next week?
Next week will be full of economic indicators for the United States and other major economics. The US markets will release the pending home sales and the S&P Shiller Home Price Index which tracks home price growth. On Thursday new inflation data will be released, PCE. Eurozone will release unemployment data’s and inflation rates. The earnings won’t be so much exciting, as from the major firms only Nike will release it’s earnings. Next week we can expect for the market to remain stationary towards the end of the week, in our opinion we don’t expect for it to fall back down and find a new low (for now), as the good news from the FED might drive the market a bit higher.
