S&P 500
The US market declined moderately last week, most likely because investors are getting ready for the inflation report due out this week. Anticipation has pressed on the market as a rate hike is scheduled for March. In addition, employment rose by 460,000 in January, well above forecasts. The unemployment rate also stabilized around 4%, giving the Fed another reason to increase rates earlier than previously scheduled.
US indices last week
Dow is down 260 p or + 0.4%, ranging from 35.350 to 35.090
NASDAQ is down 245 p or 1.7%, ranging from 14.260 to 14.015
S&P 500 is down 80 p or 1.7%, ranging from 4.560 to 4.480
Forecast:
Dow will range from 34.700 - 35.500
NASDAQ will range from 13.700 - 14.500.
S&P 500 will range from 4.400 - 4.600
Conclusion: The US market is likely to rise to yearly highs this week because of the continued improvement of the economy. There is also a chance that the range will be very wide.
