Stock Market Slips Ahead Of Key Inflation Data, Fed Decision On Rates: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Ahead of Apple's iPhone event and key inflation data, the SPDR S&P 500 (NYSE:SPY) slipped almost 0.5%. Traders are waiting for the consumer price index data and the Federal Reserve's decision on interest rates. Experienced traders may choose to play the SPY through Direxion ETFs, SPXL and SPXS, which are triple leveraged funds that track the movement of the SPY. SPXS was trading slightly higher on Tuesday, indicating a period of consolidation and lack of interest from investors.
September 12, 2023 | 4:04 pm
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SPY slipped almost 0.5% ahead of key events. The ETF's performance may be influenced by the upcoming inflation data and the Federal Reserve's decision on interest rates.
The SPY slipped due to the anticipation of key events such as Apple's iPhone event and the release of inflation data. The Federal Reserve's decision on interest rates will also impact the ETF's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPXL, a triple leveraged fund that tracks the movement of the SPY, may be used by bullish traders to play the SPY.
SPXL is a triple leveraged fund that tracks the movement of the SPY. It may be used by bullish traders to play the SPY, especially in anticipation of key events.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPXS, a triple leveraged fund that inversely tracks the movement of the SPY, was trading slightly higher on Tuesday. It indicates a period of consolidation and lack of interest from investors.
SPXS, which inversely tracks the movement of the SPY, was trading slightly higher on Tuesday. This indicates a period of consolidation and lack of interest from investors, possibly due to the anticipation of key events.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80