S&P500 recap for 15.09.2015
Risk appetite! Yeah! And why? Because the dissapointing data for the US gives a hope that the FED will dellay their rate hike this Friday for (December maybe), but the best shot is for Q1 in 2016. Core Retail Sales coming at 0.1% from forecast of 0.2% and previous (revised) 0.6%. Retail Sales coming in at 0.2% from forecast of 0.3% and previous (revised) 0.7%. And the biggest blow was from Empire State Manufacturing Index: -14% from forecast of -0.5% and previous value of -14.9%. Expectations were destroyed. Business Sentiment is hurt and and sells, spending. Drop in the Automobile sales and the primary gauge of consumer spending. And this was actually good for the S&P500 as it moved almost to the sell zone around 1987.7. The price opened at 1952.4, made a low to 1944.6 a high to 1982.7 and dropped just a bit for a close at 1980.5. Futures now indicate an opening lower from 1980.0. We have inflation data today and Housing Market Index. As spending gets lower it is normal to see a lower expectation value for inflation. CPI is expected to come at 0.0% from 0.1%, and Core CPI to stay the same at 0.1% from 0.1%. The Housing Index is expected to also stay the same at 61 points. But inflation comes up positive, this may be a boost to the Dollar and the bets for a hike this Thursday.