NDW Morning Pulse
Below are highlights from the NDW Morning Update Video for the morning of 9/9. Access the video on the NDW Morning Update Video page.
- US equity futures are lower this morning as tensions in the Middle East have continued to escalate, sending oil above $95/bbl.
- Crude gave a second consecutive buy signal yesterday when it broke a spread quadruple top at $94.
- The major US indices were down across the board yesterday as the S&P 500 (SPX) fell 0.58%. The Dow led the market lower, losing 1.18%. Semiconductors were a notable bright spot as the iShares Semiconductor ETF (SOXX) gained 1.64%.
- August inflation data is set to be released over the next two days, PPI tomorrow and CPI on Thursday. These will be the last inflation readings before the Fed meeting next week and will be closely watched as they could impact whether the FOMC raises rates at this meeting. The market is currently pricing in about a 62% chance of a hike this month.
- Yesterday’s research focused on the NDW technical rating system and the propensity for high technical attribute stocks to outperform their low attribute counterparts and the market at large.
