The Dow Jones closed 0.2% higher on Wednesday afternoon, while the S&P 500 and Nasdaq were down 0.2% and 1%, respectively, as investors mulled the impact of a cooling labor market on economic growth and inflation. Despite the data, Fed Cleveland President Mester said the fund's rate should rise above 5% this year and stay there for some time to quell inflation.
The index soon regained green after a slight decrease yesterday along with anchoring at 1,080 points, showing that the cash flow into the market is quite strong at the moment. Matching continued to stay high above the 20-session average consensus for this. However, it should be noted that the index has recovered for a long time since March 21 and the price increases started to slow down, shown by the small real body in the context of high order matching. The implication that profit-taking pressure at the upper price zone is present can negate the buying momentum.
- Global stocks struggled
- Domestic stocks move sideways after a series of bullish days
- Technical view and recommendations #HHV, #NLG, #VGC, #HPG
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