Vlad RF
Well-Known Member
US Tech forecast: the index is correcting
After reaching a new all-time high, the US Tech index started to decline, but the global trend remains bullish. The US Tech forecast for next week is positive.
US Tech forecast: key takeaways
A drop in the US services PMI to 50.9 points, compared to the forecast of 51.1 and the previous 51.0, is a moderately negative signal for the market. The indicator remains above the 50-point threshold, indicating continued growth in business activity, but a weaker-than-expected figure suggests the pace of expansion is slowing.
For the US Tech, the short-term reaction may be moderately negative or mixed. If investors interpret the data as a sign of weakening demand in the economy, pressure could increase on stocks of companies involved in corporate IT spending, cloud services, advertising, and software.
Read this article on RoboForex website - US Tech Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
After reaching a new all-time high, the US Tech index started to decline, but the global trend remains bullish. The US Tech forecast for next week is positive.
US Tech forecast: key takeaways
- Recent data: the preliminary US services PMI came in at 50.9 in May
- Market impact: the current data has a mixed effect on the technology sector
A drop in the US services PMI to 50.9 points, compared to the forecast of 51.1 and the previous 51.0, is a moderately negative signal for the market. The indicator remains above the 50-point threshold, indicating continued growth in business activity, but a weaker-than-expected figure suggests the pace of expansion is slowing.
For the US Tech, the short-term reaction may be moderately negative or mixed. If investors interpret the data as a sign of weakening demand in the economy, pressure could increase on stocks of companies involved in corporate IT spending, cloud services, advertising, and software.
Read this article on RoboForex website - US Tech Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
