Key Levels for SPX & DJIA – Is it Good time to Buy Stocks?
Arslan Butt • 1 min read
Almost all of the global stock market indices are trading bearish, especially the SPX and Nikkei. The bearish pullback came amid anxieties around soaring bond yields and higher inflation. These were bolstered on Friday when the US jobs report prompted concerns the Federal Reserve will boost rates at a faster pace than anticipated this year. For your info, Fed is expected to rise rate three more times in the year 2018.
Thus, the US equities exhibit noticeable slip on worries that the increase in the cost of borrowing will reduce the profit margins. Therefore, the investors were investing in the dollar-hedged securities such as Gold and Silver.
But now the scenario has bit changed. The stock markets are massively oversold and it’s a very good chance for investors to buy cheaper medicines for a longer term. Here are the levels
Let’s check out the trading levels.
S&P500- SPX- Trading Levels
Key Trading Level: 2,683.5
DJIA- Dow30 – Trading Levels
Key Trading Level: 24,596.72