Dallas Fed Manufacturing Index falls below analyst forecasts, hitting -17.5

Welcome to Extreme Investor Network, where we bring you the latest updates and insights on the Stock Market, trading, and all things Wall Street. Today, we dive into the recent movements in the market and what traders can expect in the coming days.

The Production Index saw a decline from 0.7 in June to -1.3 in July, while the New Orders Index also decreased from -1.3 to -12.8. These numbers have sparked reactions among traders, with Treasury yields rebounding from session lows. The 2-year Treasuries yield settled near 4.40%, while the 10-year Treasuries yield moved towards 4.18%.

The U.S. Dollar Index tested session highs following the weaker-than-expected Dallas Fed Manufacturing Index report. Traders are now gearing up for the upcoming Fed Interest Rate Decision, set to be released on Wednesday. From a technical standpoint, the U.S. Dollar Index managed to climb above the resistance at 104.40 – 104.60 and is aiming to settle above the 104.75 level.

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In the precious metals market, Gold pulled back below the $2385 level after failing to break above $2400. The strength of the dollar has put pressure on gold markets, influencing its movements in recent sessions.

Meanwhile, the SP500 settled near the 5475 level as traders digested the latest report. It remains to be seen how the Dallas Fed Manufacturing Index report will impact SP500 dynamics, as traders are already making adjustments in anticipation of the Fed decision.

Stay tuned for more updates on economic events by checking out our economic calendar. At Extreme Investor Network, we provide unique insights and analysis to help you navigate the complexities of the market and make informed decisions. Subscribe to our newsletter for exclusive content and expert tips to enhance your trading experience.

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