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Weekly review of the US stock market, December 8 -13, 2021
Over the week, the equity market has shown a noticeable increase. The main stock indices rose to yearly highs. However, on Friday, stocks fell noticeably amid risk aversion ahead of the Fed meeting. Last week, the US unveiled its inflation report. Consumer prices grew again to 6.8% in November. This is the highest inflation rate since 1980. Naturally, the Fed will take notice of this data. Now, the US economy is strong. It continues to expand despite soaring inflation. Yet, some analysts warn that this is temporary. The US economy cannot grow in the long term when inflation is above 3%. So, the Fed will have to raise the key rate.
Last week, the US stock indices showed the following dynamic:
The Dow Jones was trading at 35,740 – 35,650
The NASDAQ Composite was located at 15,700 – 15,400
The S&P 500 index stayed in the range of 4,690 – 4,660
Outlook:
The Dow is likely to stay in the range of 35,200 – 36,200
The NASDAQ is expected to trade in the range of 15,250 – 15,750
The S&P 500 is likely to remain in the range of 4,600 – 4,750
Conclusion. Market participants are waiting for the FOMC meeting.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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