Feb 5, 09:38 AM

S&P 500 Projected to Open Down 0.08%, Futures Down 0.55%, Gold Surges Ahead of ADP and ISM Data

Ahead of the New York market opening, the S&P 500 is projected to experience a loss of 0.08%, with futures down 0.55% since the previous close. The cross-asset model indicates that commodities are showing the most bullish signal at +0.03%, while global equities are the least bullish, down 0.11%. The dollar has softened, US Treasury yields have dipped, and gold prices have surged to new highs amid prevailing uncertainty. Oil prices are stabilizing as US inventories rise and concerns regarding Iranian supply persist. Key economic indicators scheduled for release today include the ADP Non-Farm Employment Change and the ISM Services PMI, which are anticipated to influence market sentiment.

#New York #US Treasury #US #Iranian #ISM Services PMI

Written with ChatGPT (GPT-4o mini).