Painful October is over while November started in a much positive tone for the US equities. The positive sentiment on the market is a result of both Fed`s halt of further rate hiking, and posted jobs data on Friday, which shows an increase in unemployment rate. Although, it seems absurd from the perspective of the economic theory that markets are happy when unemployment is rising, still, in the current environment, this actually means that there will be no impact on inflation coming from increased earnings and spending of the labor force. This is why the market was optimistic during the week, where the S & P 500 gained 0.94% on Friday and 5.85% in a week.
Although the S&P 500 started the week around level of 4.127 it soon reverted to the upside, ending the week at level of 4.358. The market hype and re-positioning might be expected in a week ahead, in which sense, there is some probability for the index to move to even higher grounds from the current ones, with some probability for 4.400 to be tested. Still, there are equal chances for a short term reversal of current trend, which might lead the index toward levels around 4.300.
Although the S&P 500 started the week around level of 4.127 it soon reverted to the upside, ending the week at level of 4.358. The market hype and re-positioning might be expected in a week ahead, in which sense, there is some probability for the index to move to even higher grounds from the current ones, with some probability for 4.400 to be tested. Still, there are equal chances for a short term reversal of current trend, which might lead the index toward levels around 4.300.
