empty
30.08.2023 03:19 PM
US premarket on August 30: US stock market continues to rise

US stock index futures are trading in the green. S&P 500 futures have risen by 0.1%, while the high-tech NASDAQ has gained only 0.2%. European stock market and bond market have declined after news indicating that inflation in Eurozone member countries is still far from its target level. Germany's 10-year bond yield surged by seven basis points to 2.58%, driven by data showing price increases in four out of six German regions in August. Inflation in Spain has also accelerated.

This image is no longer relevant

Today's inflation data from Germany and Spain will complicate the actions of European policymakers ahead of the September rate decision. Current futures on interest rates suggest roughly equal chances of a 0.25% rate increase by the European Central Bank to 4% in September. Bleak prospects were further compounded by data revealing that consumer confidence in the Eurozone remained negative.

Turning to the US market, the S&P 500 index jumped on Tuesday as unexpectedly low US consumer confidence figures raised hopes that the US Federal Reserve might be approaching the end of its monetary tightening cycle. Treasury bond yields increased, while the US dollar's value remained stable.

Today, investors will monitor reports on U.S. economic growth in the second quarter and private-sector employment from ADP. These numbers will affirm the economy's stability amid high interest rates. As it was already mentioned, data now play an unprecedented role in shaping market sentiment. If the US labor market weakens in August, it will provide an additional reason for the Federal Reserve to slow down rate hikes.

In Asia, the MSCI Asia Pacific index retreated from its highs as the strong rally in Chinese stock markets subsided. Earlier, major indices rose: the Hang Seng index surged by 1.4% after reports that Chinese state creditors were preparing to lower rates on most outstanding mortgages.

This image is no longer relevant

The cryptocurrency market is also showing signs of revival. Bitcoin surged by over 6% in the previous session as a US court's decision on a spot ETF Bitcoin potentially paved the way for the country's first exchange-traded fund of its kind. As for commodities, West Texas Intermediate oil is rising for the fifth day. Gold stabilized after reaching its August peak.

Ass for the S&P 500, demand for the index persists, but upward potential is constrained by crucial fundamental statistics. Bulls now need to take control of $4,515. From this level, they can push the price to $4,539. Bulls also should fix the price above $4,557, reinforcing the bullish market. If demand weakens amid subdued risk appetite, bulls will have to protect $4,488. Breaking through this level, the trading instrument may return to $4,469 and $4,447.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Stock Market on May 18th: S&P 500 and NASDAQ

At the close of the most recent regular session, U.S. stock indices ended in decline. The S&P 500 fell by 0.84%, while the Nasdaq 100 dropped by 0.91%

Jakub Novak 11:53 2025-06-18 UTC+2

All eyes on Powell, but geopolitics may steal spotlight

The market is at a standstill. With the Fed's decision looming and growing political pressure from two fronts — monetary and geopolitical — market participants are bracing for a sharp

Anna Zotova 11:27 2025-06-18 UTC+2

Playing on edge: can markets ignore geopolitics for another day?

The US stock market continues to disregard geopolitical realities. Indices have approached key levels and are ready for a breakout. The only question is, in which direction? If upcoming events

Anna Zotova 13:27 2025-06-17 UTC+2

Stock Market on May 17th: S&P 500 and NASDAQ

At the end of the last regular session, U.S. stock indices closed higher. The S&P 500 rose by 0.94%, while the Nasdaq 100 gained 1.55%. The Dow Jones Industrial Average

Jakub Novak 11:56 2025-06-17 UTC+2

Update on US stock market on June 17

S&P500 Snapshot of major US stock indices on Monday: Dow +0.8%, NASDAQ +1.5%, S&P 500 +0.9%, S&P 500 at 6,033 in an intraday range of 5,600 to 6,200. On Monday

Jozef Kovach 10:45 2025-06-17 UTC+2

Market on front line: inflation, missiles, and corporate reports: which will bring stock market down first?

The US stock market stands at a crossroads. It has shown strength by recovering from panic sell-offs but has yet to deliver a clear signal for a sustained trend

Anna Zotova 17:05 2025-06-16 UTC+2

US market amid Israel–Iran war

S&P 500 Overview on 16.06 US market amid the Israel–Iran war Key US indices on Friday: Dow -1.8%, Nasdaq -1.3%, S&P 500 -1.1%, S&P 500 at ,5977, range 5,600–6,200

Jozef Kovach 13:52 2025-06-16 UTC+2

Stock Market on May 16th: S&P 500 and NASDAQ Closed Lower

At the end of the previous regular session, U.S. stock indices closed in negative territory. The S&P 500 dropped by 1.13%, while the Nasdaq 100 declined by 1.30%

Jakub Novak 10:43 2025-06-16 UTC+2

Stock Market on May 13th: S&P 500 and NASDAQ

During the previous regular session, U.S. stock indices closed higher, but the situation changed dramatically afterward. The S&P 500 rose by 0.38%, the Nasdaq 100 gained 0.24%

Jakub Novak 12:17 2025-06-13 UTC+2

US Market: Israel strikes Iran's nuclear facilities. Market falls, oil and gold rise

S&P 500 Overview on 13.06 US Market: market declines following Israel's strikes on Iran Key US indices on Thursday: Dow +0.2%, Nasdaq +0.2%, S&P 500 +0.4%, S&P 500 at 6045

Jozef Kovach 11:59 2025-06-13 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.