SP 500 Exchange rate
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EUR/USD retreats to 1.1750 area after upbeat US data
EUR/USD corrects lower after climbing to the 1.1800 area earlier in the day but stays in positive territory near 1.1750. The stronger-than-forecast private sector employment data helps the US Dollar find a foothold, while the risk-on market environment on growing optimism about a US-Iran deal allows the pair to preserve its bullish stance.
USD/JPY off lows, still down 1% on likely 'Yentervention'
USD/JPY is off ten-week lows but remains heavy near 156.00 in on Wednesday. Markets speculate another round of FX intervention by Japan's authorities behind the latest leg up in the Japanese Yen, keeping the bearish pressure intact on the currency pair. Meanwhile the US Dollar struggles to find demand as markets grow optimistic about the US and Iran finalizing a truce deal.
Gold continues scaling higher; tests $4,700 amid peace deal hopes
Gold extends its intraday ascent and climbs to an over one-week high, re-attempting $4,700 on Wednesday. The US Dollar weakens across the board amid optimism over a potential US-Iran peace deal, helping the commodity to build on its recovery from a more than one-month trough, around the $4,500 mark set on Monday.
Crypto Today: Bitcoin, Ethereum, XRP strengthen bullish outlook on increasing capital inflows
Bitcoin remains above $81,000 as bulls challenge key resistance amid steady inflows into spot ETFs. Ethereum flirts with the $2,400 supply area, supported by the 50-day and 100-day EMAs. XRP gains traction near $1.45 resistance.
UK 30-year gilts hit 5.78%, the highest since 1998: what is being priced in? Premium
UK 30-year gilts traded as high as 5.78% on Tuesday, the highest level since 1998, while 10-year yields topped 5.10% with markets pricing in nearly three-quarter-point Bank of England (BoE) rate hikes this year.
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S&P 500
The Standard & Poor's 500 (S&P 500) is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States (US). It is seen as a leading indicator of US equities and includes approximately 80% of the total market capitalization of US public companies.
The S&P 500, operated by S&P Dow Jones Indices, is weighted by free-float market capitalization, meaning that larger companies have a greater impact on the index. Constituents and their weights are regularly updated based on rules set by S&P Dow Jones Indices.
The S&P Index Committee, comprising analysts and economists at Standard & Poor's, selects the companies based on criteria such as market size, liquidity, and industry grouping.
Over time, the S&P 500 serves as a key benchmark for the US economy.
HISTORIC HIGHS AND LOWS FOR S&P 500
- All-time records: Max: 6,001.35 on 11/11/2024 – Min: 4.40 on 05/1932
- Last 5 years: Max: 6,001.35 on 11/11/2024 – Min: 2,237.40 on 23/03/2020
* Data as of November 2024
ASSETS THAT INFLUENCE THE S&P 500
- Currencies: US Dollar (USD).
- Commodities: Oil and Gold.
- Bonds: US Treasury Bonds.
ORGANIZATIONS, PEOPLE, AND ECONOMIC DATA THAT INFLUENCE THE S&P 500
Since the S&P 500 is a benchmark of US stocks, its value is influenced by a variety of decisions and indicators affecting major companies, including:
- Economic indicators inflation – Consumer Price Index (CPI) and Producer Price Index (PPI) –, consumer confidence (University of Michigan Consumer Sentiment Index), economic growth (GDP), employment (Nonfarm Payrolls), and salaries (Average Weekly Earnings).
- Interest rates, decided by the Federal Reserve (Fed), the central banking system of the US. Jerome Powell, the 16th Chair of the Fed, has held the position since February 2018 after being nominated by Donald Trump and confirmed by the Senate.
- Fiscal policy, trade deals, and business laws decided by the US president, the Treasury Department and the Department of Commerce. The Treasury focuses on fostering economic stability, growth and financial integrity, while the Department of Commerce supports economic growth and established industrial standards.
- Energy prices such as electricity and Oil directly impact production costs for companies within the S&P 500.