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US stocks rose last week, but remained within the horizontal channel. The main driver of growth was the data on inflation, which apparently rose to 5% in May, thanks to the 5-6% jump in prices. It is unclear whether the cause is the sharp collapse of prices a year ago during the coronavirus crisis, or if it has broader reasons such as liquidity from major central banks.
So far, only developing countries are raising rates, as major central banks such as the Fed are firm on keeping their soft monetary policies. The Fed said it will leave the minimum rate at 1.25%, and continue buying bonds at a rate of $ 120 billion per month to support economic growth.
Last week:
Dow Jones dropped 0.6% (200 points) and valued 34.400 points. It is projected to range around 34.300 - 35.000 points this week;
S&P 500 grew 0.7% (30 points) and hit 4.255 points. It is expected to value around 4.200 - 4.300 points this week;
Nasdaq climbed 1.5% (250 points), increasing to 14.170 points. It is forecast to reach 14.000 - 14.500 points this week.
Dow declined despite high commodity prices, while S&P 500 and Nasdaq returned to all-time highs.
Conclusion: The US market will jump by as much as 5-7% if the Fed hints at a future policy change. If not, stocks will plunge downwards.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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