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S&P 500
The US market posted a strong rally last week, ignoring the news on the conflict in Ukraine. But it fell slightly amid the rate hike announced by the Fed, which was done to combat the persistently rising inflation.
The highlight of the new week will be the move of the West regarding the crisis in Ukraine. On March 24, NATO, the G7 and the EU will meet to discuss what measures the US should take to stop Russia's actions in Ukraine. The market also expects progress on the negotiations, but hopes are low.
US indices last week:
Dow - 33.140 to 34.540 points (up 1,400 pips or 4%)
NASDAQ - 13.000 to 13.800 points (up 800 pips or 6%)
S&P 500 - 4.300 to 4.460 (up 160 pips or 4%)
Forecasts:
Dow - 34.000 to 35.000 points
NASDAQ - 13.500 to 14.200 points
S&P 500 - 4.380 to 4.550 points
Conclusion: The US market is ready for growth, but positive news is needed such as a ceasefire in Ukraine. If the conflict flares up, the market will turn down.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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