REDATOR Ben Graham Posted February 17 REDATOR Report Share Posted February 17 US market were closed yesterday for a holiday. Today, futures on the major US indices opened share lower, suggesting the multi-week below in tech stocks may continue as Wall Street returns from its break. Treasures ticked up lightly, and precious metals easy. Futures on the S&P 500, which has been sliding over the past two weeks, erasing much of this year's gain, are down about 0.5% at the open. Meanwhile, Nasdaq 100 futures have fallen by roughly 0.9%. The tech-heavy Nasdaq is printing a third straight weekly loss, living it down roughly 2% year-to-date. Asian markets were softer, down about 0.2% on low volumes as many Chinese, Hong Kong, and regional exchanges remain closed for Lunar New Year holidays. Against the softer risk tone, the 10-year US Treasure welled easy about two bass points to 4.03%. Oil prices largely held gain as Iranian naval exercises near a key shipping lane raised geopolitical risk head of talks with the United States. Precious metals retreated amid the risk-off moves. Geopolitics is back in focus. Tensions in the Middle East are forcing traders to reassess central bank paths worldwide. Recently, US President Trump has been threatened action against Iran unless it agreed to a deal to curb its nuclear program in exchange for sanctions relief — comments that feed through to risk sentiment. Fed speakers are also on the calendar. Today, Fed Governor Michael Barr will speak and is expected to review the latest labor market data and discuss the implications of artificial intelligence. Later, San Francisco Fed President Mary Daly will also deliver a speech. The labor market remains one of the clearest readouts on US economic health, showing resilience at the start of the year while still posing upperside risks to inflation. Barr is expected to assess recent prints. His take on AI and employment, unemployment, and waves data will be watched closely. In the commodity market, precious metal slipped. Spot gold approached the $4,900/oz area, silver dropped by about 3.1%, and platinum felt near 2%. Bitcoin easy and traded around $68,200. As for the S&P 500 technical analysis, today, buyers' main task is to claim the resistance level of $6,819. A break and consolidation above that level would help the index gain upperside momentum and open the way forward $6,837. Holding control vault $6,854 would further strengthen the bullish case. In case of a downside moves, if risk appetite erosions, buyers should defend near $6.801. A break below that level would quickly push the instrument back to $6.784 and open the path to $6.769. The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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