empty
16.06.2023 12:50 PM
US premarket for June 16: US stock market bounces back

US stock index futures extended their gains on Friday, showing their best week in over two months. Risk appetite remains steady as investors anticipate China's stimulus and show high interest in AI companies.

S&P500 futures added nearly 0.3% following yesterday's record rise, while the tech-heavy NASDAQ jumped by 0.4%. This week, the MSCI World index rose by 3%, marking its best performance since the end of March. Asian stock indices also demonstrated a robust rally on Friday.

This image is no longer relevant

Anticipation that the Federal Reserve will end its tightening cycle sooner rather than later, following a pause in rate hikes this week, bolstered risk asset appetite. Concurrently, expectations are growing that the Chinese government will increase spending to support economic growth rates. This news spurred the shares of the mining, energy sectors, and some luxury goods.

In Europe, consumer sector shares enjoyed a rise following a strong leap in LVMH and Asos Plc shares, which each gained around 7.0%. In the US, Adobe Inc. surged by 3.9% in premarket trading after a report indicated that profits exceeded expectations, and analysts optimistically evaluated the future AI potential. Apple Inc. shares, whose market capitalization is nearing $3 trillion, also traded slightly higher following a week-long rally.

Some economists at Bank of America Corp. recently admitted to erroneous forecasts for the first half of the year, as the US economy managed to avoid a recession and credit crisis, and an AI-driven tech rally rejuvenated risk appetite. However, they drew parallels with 2000 or 2008, reminding us of the grand rally before a significant crash.

Treasury yields increased across the board, and the US dollar continued to lose ground.

Gold rebounded from its weekly lows, indicating a return of demand for the metal. The oil market also traded within a narrow sideways channel, hinting at further potential decreases.

This image is no longer relevant

As for the S&P 500 index, demand for the trading instrument remains fairly high. Bulls have a chance to continue the upward trend, but they should defend $4,410, a level from which a surge to $4,447 may happen. Maintaining control over $4,488 is another priority for bulls, which will consolidate the bullish market. If the index declines due to diminishing risk appetite, bulls should protect $4,410 and $4,380. Breaching this level, the instrument may return to $4,350 and $4,320.

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 March 14th: S&P 500 and NASDAQ Indexes Continue to Decline

Futures on the S&P 500 and NASDAQ stock indices continued their significant decline, returning to a bearish scenario.Asian stocks, along with futures on U.S. and European stock indices, rose during

Jakub Novak 13:01 2025-03-14 UTC+2

Donald Trump Is Just Getting Started

The 24-hour chart wave structure for #SPX appears relatively clear. The first key observation is the global five-wave structure, which is so extensive that it doesn't even fit into

Chin Zhao 12:04 2025-03-14 UTC+2

US stock market: NASDAQ and SP500 going through correction, 10% down from their historic highs

S&P500 Markt update on March 14 Snapshot of benchmark US stock indices on Thursday: Dow -1.3%, NASDAQ -2%, S&P 500 -1.4%, S&P 500 at 5,521, range 5,400 - 6,000

Jozef Kovach 10:53 2025-03-14 UTC+2

S&P 500 Forecast for March 14, 2025

Yesterday, the S&P 500 index reached its target support level of 5516, which corresponds to the peak observed on June 20, 2024. This level also aligns with the 23.6% Fibonacci

Laurie Bailey 03:53 2025-03-14 UTC+2

US stock market groping for support

S&P500 Market update on 13.03 Snapshot of benchmark US stock indices on Wednesday: Dow -0.2%, NASDAQ +1.2%, S&P 500 +0.5%, S&P 500 at 5,599, range 5,400 – 6,000 The S&P

Jozef Kovach 10:17 2025-03-13 UTC+2

Stock Market on March 13: SP500 and NASDAQ Gains Were Short-Lived

Futures for the S&P 500 and NASDAQ indices declined again following yesterday's unexpected U.S. inflation data, which revealed a slowdown in price pressures that contradicted economists' forecasts. Asian stocks also

Jakub Novak 08:28 2025-03-13 UTC+2

US market experiencing strong correction

S&P 500 Overview for March 12 The US market is experiencing a strong correction. US major indices on Tuesday: the Dow -1.1%, the NASDAQ -0.2%, the S&P 500 -0.8%

Jozef Kovach 11:36 2025-03-12 UTC+2

Stock Market on March 12th: S&P 500 and NASDAQ Hit Another Low

Futures on the S&P 500 index rose by 0.2% after losing 0.76% at the end of the previous day, while Nasdaq 100 futures added 0.3% after closing at -0.18%. Stocks

Jakub Novak 10:58 2025-03-12 UTC+2

Trump's meeting with Wall Street leaders set to stabilize market

Amid a sharp decline in US stock markets, President Donald Trump will meet with chief executives of major companies today as industry leaders try to navigate the uncertainty surrounding widespread

Jakub Novak 13:32 2025-03-11 UTC+2

Black Monday on Wall Street. US stocks lose $4 trillion in market capitalization

S&P500 Market review on March 11 US stock market suffers a crash. $4 trillion lost, but game not over yet Performance of benchmark stock indices on Monday: Dow: -2.1% NASDAQ

Jozef Kovach 12:14 2025-03-11 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.