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Inflation Remains a Worry as Stocks Post Modest Gains



Inflation Remains a Worry as Stocks Post Modest Gains



By
Justin Kuepper | February 26, 2018 Established
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ADD TO WATCHLISTSPY
SPDR S&P500 ETF Trust Units
277.90
+1.16%






DIA
SPDR DJ Ind Avg Trust Units Series -1-
256.92
+1.59%






QQQ
Pwrsh QQQ SerI
170.40
+1.33%






IWM
iSh Russ 2000
154.99
+0.66%







View Watchlist



The major U.S. indexes moved modestly higher last week, with tech stocks outperforming other sectors. During the minutes released last Wednesday, the FOMC predicted that economic activity would continue to expand at a moderate pace and stated that labor market conditions remain strong. The central bankers were also optimistic about achieving their 2% inflation target and that gradual increases in the federal funds rate would be necessary – although these sentiments have sparked concerns among investors.
International markets were mixed over the past week. Japan's Nikkei 225 fell 0.74%; Germany's DAX 30 rose 0.26%; and Britain's FTSE 100 fell 0.71%. In Europe, the IHS Markit Eurozone PMI fell from 58.8 in January to 57.5 in February, but growth remains solid in the region. In Asia, China proposed scrapping the presidential term limit, which would clear the way for Xi Jinping to stay in power at a time when the country's growth is slowing.
The SPDR S&P 500 ETF (ARCA: SPY
SPY
SPDR S&P500 ETF Trust Units
277.90
+1.16%








) rose 0.59% over the past week. After briefly touching the 200-day moving average at around $253.00, the index rebounded to the 50-day moving average at $272.47. Traders should watch for a breakout to the pivot point at $278.64 or a breakdown to retest S2 support at $259.41. Looking at technical indicators, the relative strength index (RSI) rose to neutral levels of 54.22, while the moving average convergence divergence (MACD) could see a near-term bullish crossover following its bearish crossover in late January in a sign that things could be turning around. (See also: Selling Stocks on Rally Is New Mantra Amid Market's Swings.)













The SPDR Dow Jones Industrial Average ETF (ARCA: DIA
DIA
SPDR DJ Ind Avg Trust Units Series -1-
256.92
+1.59%








) rose 0.38% over the past week, making it the worst performing major index. After the index briefly broke below S2 support at $238.70, it rebounded to the 50-day moving average at $251.54. Traders should watch for a breakout to the pivot point at $257.49 or a breakdown to retest S2 support levels. Looking at technical indicators, the RSI appears neutral at 53.07, but the MACD experienced the start of a bullish crossover that could signal further upside ahead.



The PowerShares QQQ Trust (NASDAQ: QQQ
QQQ
Pwrsh QQQ SerI
170.40
+1.33%








) rose 1.95% over the past week, making it the best performing major index. After briefly touching S2 support levels at $150.73, the index rebounded above its pivot point at $165.51. Traders should watch for a breakout to retest highs at around $171.00 or a breakdown to retest lower trendline support at around $163.00 or the 50-day moving average at $162.15. Looking at technical indicators, the RSI appears neutral at 59.81, while the MACD experienced a bullish crossover. (For more, see: Why Amazon, Microsoft, Netflix Pose a Risk to Stock Market.)

The iShares Russell 2000 Index ETF (ARCA: IWM
IWM
iSh Russ 2000
154.99
+0.66%








) rose 0.42% over the past week. After briefly breaking below the 200-day moving average, the index rebounded to S2 support levels at around $152.34. Traders should watch for a breakout to the pivot point at $156.48 or a breakdown to test S2 support levels at $148.32. Looking at technical indicators, the RSI appears neutral at 53.65, while the MACD could see a near-term bullish crossover.

The Bottom LineThe major indexes moved modestly higher last week, with many indexes nearing a bullish MACD crossover that could signal further upside ahead. Next week, traders will be closely watching new home sales on Feb. 26, GDP data on Feb. 28 and consumer sentiment data on March 2. The market will also be keeping a close eye on evolving geopolitical risks. (For additional reading, check out: 6 Stocks That Will Rise With the Global Economy.)









Read more: Inflation Remains a Worry as Stocks Post Modest Gains | Investopedia https://www.investopedia.com/news/inflation-remains-worry-stocks-post-modest-gains/#ixzz58JOQzXFo
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凡事唯有投入,結果才能深入; 凡事唯有付出,結果才能傑出; 凡事唯有磨鍊,結果才能熟練; 凡事唯有不煩,結果才能不凡。
能與智者同行,你會不同凡響;能與高人為伍,你能登上巔峰。
你雖不能改變環境, 但卻可以轉換心境;你雖不能樣樣勝利,但卻可以事事盡力。
Dr. Chao Yuang Shiang (PH.D in management), Assistant Professor,Dep. of Finance & Institute of financial management, Nan Hua University.
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