Despite a small dose of optimism, associated with rumors about the easing of monetary policy in China (which had a positive impact on commodities stocks), U.S. stock indices nevertheless failed to end the day with gains. As a result, the storming of the resistance levels was defeated, and the S&P 500 Index came closer to forming a “head and shoulders” configuration. This means that the chances of global markets’ decline have risen sharply.
Investors should also pay attention to the dynamics of Apple stock, which, after a frisky bounce upwards, returned to the levels of mid-March’s lows (below USD 600 per share). Thus, it may be noted that the players’ mood is hardly optimistic. In addition, the U.S. economy continues to demonstrate moderate distress. Thus, for the third consecutive month, the Federal Reserve Bank of Philadelphia’s business activity index was again worse than expected.
