4 Events To Watch Today: S&P 500 In Focus - Forex News by FX Leaders

4 Events To Watch Today: S&P 500 In Focus

Posted Thursday, June 15, 2017 by
Arslan Butt • 1 min read

The US stock markets dropped in response to volatility in the oil prices which eventually triggered a dramatic selloff in energy shares. Specifically, the S&P 500 is comprised of 10 sectors, out of which one of the sectors is energy. Energy stocks tripped 1.8% following a swell in crude inventories, which triggered massive selling in the crude oil. The drop in energy prices reduces companies' profit margins.

Being an investor, I definitely will not keep my investments in the shares of a company whose profit margins are declining. That's a full story behind the bearish momentum in the S&P 500.

4 Major Events In Focus  

In the New York trading session, we need to monitor the following events:

  • Unemployment Claims (12:30)
  • Philly Fed Manufacturing Index (12:30)
  • Capacity Utilization Rate (13:15)
  • Industrial Production m/m (13:15)

 

Three out of four represent production activity, and increased production is a sign of economic growth. Investors from all over the globe are likely to shift their investments into the US stock markets.

S&P 500 - Hourly Chart S&P 500 – Hourly Chart 

 

Forex Trading Signal – Idea

The idea is to have a buy position only above $2420.25 with a minor stop loss at $2414.50 and a take profit at $2435. Keep following our updates as we are about to launch the forex trading signal on the US and Eurozone stock indexes.

 
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments