S&P 500 bears seeking a break of critical support structure SP500 Equities Technical Analysis
US stocks are on track to end lower on a slew of earnings reports that have come out largely negative has weighed on risk sentiment, especially in the banking sector, bourne out of worrying earnings from First Republic Bank and UBS.
Plunging deposits at First Republic Bank have reignited worries over the health of the banking sector and UBS reporting a 52% slide in quarterly income as it prepares to swallow fallen rival Credit Suisse has not helped to encourage any hunger for risk in the financial markets. The revival of banking sector concerns could be an ongoing theme and that leaves the outlook fundamentally bearish for US equities and the S&P 500 index.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indianapolis Motor Speedway first responder training held as preparation for Indy 500For the first time in its racing history, the Indianapolis Motor Speedway kicked off the season with a training opportunity in hopes of getting first responders ready for a full season of racing.
Read more »
Kyle Busch wins Geico 500 in double overtimeKyle Busch escaped a chaotic double overtime finish and crossed the finish line first at Talladega to capture his second career victory at the superspeedway and first in 15 years.
Read more »
S\u0026P 500 Forecast: Continues to See Rangebound TradingThe S\u0026P 500 index experienced a decline during Friday\u2019s trading session.
Read more »
Ex-Disney World worker allegedly admits taking more than 500 up-skirt videos of customersA former Walt Disney World employee is facing a charge that he surreptitiously took a video up the skirt of a female customer, allegedly telling investigators he'd done it more than 500 times over the past six years.
Read more »
Markets Preps for Data Filled Week: USD, BOJ & S&P 500Markets Preps for Data Filled Week: USD, BOJ & S&P 500. The Monday Market Oulook with Warren Venketas gives a report on the latest changes in the financial ma...
Read more »
These S&P 500 sectors are in positive earnings-revision territory, but tech has slipped, says RBCCompany earnings season for the first quarter is 'off to a decent start,' according to RBC Capital Markets.
Read more »