The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Last Friday, US stock indices closed higher. The S&P 500 rose by 0.59%, while the Nasdaq 100 gained 0.44%. The Dow Jones Industrial Average jumped by 0.55%.
Futures on US and European stock indices climbed alongside Asian markets, signaling growth on Wall Street after data pointed to moderate inflation growth in the US.
Futures on the S&P 500 and Nasdaq 100 advanced after both indices surged on Friday, breaking a three-day losing streak. European stock indices also pointed to a stronger open. Asian markets pared early losses, rising by 0.6%, with mainland China's index soaring by 2%.
Oil prices fell on expectations that OPEC+ will once again raise production in November, fueling concerns about oversupply. Gold prices surged to a record $3,800 per ounce. The US dollar index declined for a second straight day under pressure from month-end flows and the looming risk of a US government shutdown. Treasury bonds gained across the curve.
Congressional leaders plan to meet with President Donald Trump on Monday, just a day before federal funding expires. A bill that would extend government funding only until mid-November must be passed by October 1 to avoid a shutdown, which could delay the release of key economic data and destabilize markets.
If the government shuts down, federal employees will be sent on unpaid leave, slowing US economic activity, while official economic reports will be suspended. Failure to prevent a shutdown could further highlight the fragile situation in the US, putting additional downward pressure on the greenback.
The economic consequences of a shutdown extend far beyond the immediate reduction in spending. Delays in issuing permits, suspension of scientific research, and postponement of government procurement could trigger a chain reaction, negatively affecting various sectors of the economy. The absence of timely economic data from government agencies makes it difficult for businesses and investors to make informed decisions, adding to market uncertainty. On the political stage, a shutdown usually reflects deep divisions between the legislative and executive branches. The exchange of mutual accusations and the search for scapegoats undermine confidence in the government and institutions of power. Foreign investors, watching US political instability with concern, may begin to reconsider their portfolios, adding further pressure on the US currency.
Today, the four leading congressional leaders are scheduled to meet with Trump on this issue.
As for the technical picture of the S&P 500, the main task for buyers today will be to overcome the nearest resistance level of $6,672. This will support growth and open the way for a push toward the next level at $6,682. An equally important objective for bulls will be to gain control over the $6,697 mark, which would strengthen buyers' positions. In the event of a downside move amid weakening risk appetite, buyers must assert themselves around $6,660. A breakout would quickly push the instrument back to $6,648 and open the road toward $6,638.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
