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US Market Outlook 31 Jan 2018

Posted by Tim Sholl on 01-Feb-2018 01:27:40

After very strong earnings report from Boeing has given the market a huge boost and it looks set to open up close to 200 points after losing 362 yesterday. Stock indices around the world have weakened over the past week , with a weak USD and rising bond yields the main fundamentals. Liquidity is still very large even with the Fed likely to raise rates a number of times this year. So buying the dip has been the market position over the past 9 years and it still promises strong returns.

Dow looks to open at 26302 up 226 , S&P500 at 2832 up 10 and Nasdaq at 6964 up 34. The US Dollar still remains weak with EUR at 1.2450 up 49 , and GBP at 1.4158 up 11 , with DXY at 88.75 down 25.

US Fed meeting concludes later today , but no change in rates is expected. 

ADP employment data was out at 264000 new jobs implying a strong number for monthly employment data due Friday.

Daily Chart of Dow 30 CFD.

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Topics: Market News, Invest, US Market Outlook