Search ForexCrunch

The S&P500 Price ended last week on a hugely positive note as investors continued to shrug off persistent high inflation worries and tepid job data. In fact, the S&P price soared from an intra week low of 4258 on 19 July to a high of 4411 on Friday’s close – a jump of nearly 5%.

This week looks like being more of the same for the S&P500 with the price expected to continue soaring and exceeding the 4500 mark. Last week’s speech by ECB Head Christine Lagarde where an indication that a programme of bond buying was to continue also shored up other indexes across the globe.
If you haven’t yet traded forex, have a look at the Best Forex Brokers.

Short Term S&P500 Price Forecast: Bullish For This Week

It seems that with investors in a bullish mood, the S&P500 price should continue to enter positive territory. After the almost 5% gain over the past week, it looks likely that the S&P500 will make similar gains and begin approaching the 4750 level.

Tepid jobs data and a sluggish vaccine rollout in some states has continued to put a damper on the economic recovery in the US. Still, this does not seem to have had much an effect on the three major indexes which are all in positive territory at present.

There are a number of announcements this week which should have some sort of impact on the S&P500 price. Everything seems to be finally balanced although we should expect some action towards the end of the week.
There are several earnings results expected to be published from some of the largest listed companies this week. These include Apple, Alphabet, Facebook, Amazon and Boeing. With almost 40% of the S&P index announcing, there’s bound to be some twists, although most results are expected to continue soaring.

Wednesday should also see the FOMC decision whilst US GDP data is expected on Thursday. Both announcements will be closely watched for the future direction of the S&P500 price.

Long Term Forecast for Standard and Poor’s index: Bullish momentum should continue

As the economy continues to open up from Covid19 restrictions, the economy is expected to continue to grow. Inflation should also start to be slowly reigned in although that does not seem to be much of a worry for investors.

The S&P500 price forecast for the end of the year looks to reach the psychologically significant 5000 mark after which it should continue to grow exponentially. Pitfalls ahead could include a resurgence in Covid19 cases and resultant deaths from the virus as well as the continued sluggish pace for vaccinations.

Looking to trade forex now? Invest at eToro!

[su_buttonurl=”” style=”3d” background=”#1d44bb” size=”8″ center=”yes” radius=”0″]Trade Forex Now![/su_button]

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.