[PREDICTION]How will S&P500 index close on Friday 2 Sept?
Click to vote. Guess How will $S&P 500(.SPX)$ close on Friday 2 Sept? If you get correct answers, you can get 10 Tiger coins.
Wall Street was suffered a sharp sell-off on Friday, when Federal Reserve Chairman Jerome Powell’s short and blunt remarks in Jackson Hole, Wyoming, appeared to extinguish hopes of the central bank changing its aggressive course of rate hikes in the months ahead.
The Dow fell over 3%, for its worst day since May. The S&P 500 and Nasdaq Composite fell 3.4% and 3.9%, respectively, for their worst days since June. The drop erased the August gains for all three averages.The coming week brings more Fed speeches, including Vice Chair Lael Brainard on Tuesday, before August’s nonfarm payrolls report on Friday.
I would like to invite you to share your thoughts about $S&P 500(.SPX)$ and your prediction of its closing price.
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The event will last until 21:00 on Friday 2 September SGT.
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Ever since last Friday when Jerome Powell gave his speech on the Feds' commitment to control inflation, the US markets have been finishing lower.
On the last day of August, S&P500 Index closed down 1.1% to 3986.16. S&P500 's 11 sectors were all in the red. This is the largest percentage loss since mid June.
Jerome Powell' s speech has caused investors ' sentiments to turn negative. This will certainly impact the market performance going into September. September is well known as the worst month for the markets historically.
However the good news is some quality stocks maybe screaming buys and this is the best time to bargain hunt.
I predict the S&P500 Index to close down on Friday to 3800 - 3900 range.
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1) Fridays are known to be beaten down day due to Options.
2) This Friday is already September.. [Pitiful]
3) FED obviously don't want to see market in Green [Drowsy]
But, the market won't be bearish for the whole week, just guess [Thinking].
There maybe a few days of bullish even is a small bull [Sly].
Huat ah! [Miser]
Its heading for 3915 - 23.6% Fib
On Fri, SPX might bounce of this support and hang there until Sep CPI and rate hike is done before confirming next trend movement
August gains eased off from Last friday and current general premarket seems to continue falling in red.