S&P 500, NAS100 Continue Advance on Dovish Fed Rhetoric

Following a key bounce of support yesterday US Indices continue their resilience in the face of mounting risks. Is a new YTD high a possibility?

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-10 11:00:11IG Client Sentiment Shows that Retail Traders are Long with 51% of Traders Currently Holding Long Positions on the S&P.US Indices have shrugged off the risk of tone which kicked of trading this week as for the moment at least market participants appear at ease that the conflict in Israel will remain confined.

Risk assets have received a boost since yesterday's US session as top Fed policymakers hinted that the higher long-term Yields are the lower the probability that further rate hikes would be needed. This rhetoric saw the gaps on US futures close and gains continued into today as Fed policymaker Bostic reiterated a similar dovish tone. Bostic stated that the Fed do not see the need to increase rates anymore.

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