A Look At The SPY Heading Into The Week With Biden's Tentative Debt Ceiling Deal In Focus
Portfolio Pulse from Melanie Schaffer
The SPDR S&P 500 (SPY) closed up 1.3% on Friday ahead of news that President Joe Biden and House Speaker Kevin McCarthy reached a tentative deal to increase the debt ceiling. The SPY faces resistance at $420.76, and its momentum could be affected by the Federal Reserve's decision on interest rates in their upcoming meeting.
May 29, 2023 | 7:00 pm
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SPY closed up 1.3% on Friday, with resistance at $420.76. The ETF's momentum could be affected by the Federal Reserve's decision on interest rates in their upcoming meeting.
The SPY closed up 1.3% on Friday, indicating positive momentum. However, the Federal Reserve's decision on interest rates in their upcoming meeting could impact the ETF's momentum. The resistance at $420.76 could also play a role in determining the short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100