Hello traders everywhere. The S&P 500 and NASDAQ are on the rise for a third straight day, wiping out last weeks losses. The S&P 500 reached a four-month high as it held above the key 2,800 level that it has struggled to breach in recent weeks. Crude oil rose toward $58 a barrel in New York.
The Commerce Department announced today that the nondefense durable goods orders posted their largest increase in six months in January, rising 0.8%. Overall durable goods orders also rose 0.4% while economists polled by Refinitiv expected a decline of 0.5%. The economic data overshadowed a weaker-than-expected print on the producer price index.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 2,722.27
- Dow (INDEX:DJI): 26,241.42
- NASDAQ (NASDAQ:COMP): 7,332.92
- U.S. Dollar (ICE:DX): 96.03
- Gold (NYMEX:GC.J19): 1,292.00
- Crude Oil (NYMEX:CL.J19): 56.74
- Bitcoin (BITCOIN:BITSTAMPUSD): 3,553.98