S&P Close to All Time Highs, Closes Flat on USD and Earnings: 26-4-2016

Toronto, Canada, April 26, 2016 (Newswire.com) - KFM Investment Group

S&P Close to All Time Highs, Closes Flat on USD and Earnings: 26-4-2016

The S&P 500 continues to hold close to all-time highs with 8 out of the last 10 weeks showing positive gains after the bear market earlier in the year.

David Steele, PR Manager

The S&P 500 continues to hold close to all-time highs with 8 out of the last 10 weeks showing positive gains after the bear market earlier in the year.

With the S&P close to 2,100 again and the Federal Reserve starting its 2-day meeting later today, many traders are expecting US markets to show caution today until Ms. Yellen makes her comments.

Expected to continue their dovish tone, the Federal Reserve is getting closer to a rate increase in 2016. Initially pegged to see 2 to 4 increases in 2016, it now looks likely that rates will remain the same until later in the year. It’s possible that should the US economy continue to show steady growth, rates could be increased in November and December to round off the year.

Later today, Apple Inc. report on Q1 earnings. After the bell Apple will announce their results, the company has been trading under value since the beginning of the month and a good report should see some inflows in afterhours trading.

Of the 135 companies that have reported on Q1 earnings on the S&P, 59% have beat expectations. This comes in just under the 60% average set since 2002. Monday’s trading saw 8 52 week highs on the S&P and just 1 new 52-week low.

Volumes have been low recently. The 20 day moving average is at 6.8Bn shares, yesterday saw just over 6bn shares traded.

Major US Index Closes 25th April:

S&P 500 2,087.79 -3.79 (-0.18%)

Dow Jones 17,977.24 -26.51 (-0.15%)

NASDAQ 4,895.79 -10.44 (-0.21%)

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Source: KFM Investment Group