US 500 forecast: the index completed its correction
The US 500 recovered after a decline. The US 500 forecast for today is positive.
US 500 forecast: key trading points
Recent data: ISM non-manufacturing employment in the US came in at 48.2 in October
Market impact: the data is moderately positive for the stock market
Fundamental analysis
The ISM Non-Manufacturing Employment Index stood at 48.2 points, compared with the forecast of 47.6 and the previous reading of 47.2. Although the indicator remains below the neutral 50.0 mark, formally signalling contraction in the services sector’s employment, its uptrend suggests gradual improvement. For the US stock market, this indicates that the pressure on the labour market from the services sector is easing: the rate of job reduction is slowing, which lowers the likelihood of a sharp macroeconomic downturn or a hard-recession scenario.
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Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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The RoboForex Team