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S&P 500 Forecast: Index gains on Monday as markets look ahead to Apple earnings, Treasury refunding

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The S&P 500 index opened higher on Monday as the market hopes the more attractively-valued index can rally following two consecutive weeks of greater than 2% losses.

S&P 500 loses 2.53% in final full week of October, its second consecutive week of +2% decline. Morgan Stanley’s Mike Wilson reiterates call for S&P 500 to fall another 5% to close year at 3,900. S&P 500 RSI drops to oversold territory at 29 last Friday. Fed FOMC meeting on Wednesday expected to keep rates unchanged. Apple, Starbucks, Caterpillar, Pfizer and AirBNB all report earnings this week. Last week’s dismal performance that subtracted 2.

S&P 500 FAQs What is the S&P 500? The S&P 500 is a widely followed stock price index which measures the performance of 500 publicly owned companies, and is seen as a broad measure of the US stock market. Each company’s influence on the computation of the index is weighted based on market capitalization. This is calculated by multiplying the number of publicly traded shares of the company by the share price. The S&P 500 index has achieved impressive returns – $1.

 

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