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17.09.2021 11:22 AM
US stocks fluctuate in anticipation of options expiry

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US stocks fluctuate on Thursday ahead of the expiration of options and futures tomorrow. Dollar and Treasury yields, on the other hand, rose.

Reportedly, the S&P 500 swung both ways after the index posted its biggest gain since August on Wednesday. But all in all it is 1% lower this month amid fears of a deeper correction.

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Truist Advisory chief market strategist Keith Lerner said: "After seven months of gains, equity markets have been choppier mid-way through September. This is actually quite normal from a historical seasonal standpoint, though the ongoing carousel of concerns continues. "

Markets began to wobble as investors weighed the impact of the mixed economic data on the Federal Reserve's plans to cut stimulus. Retail sales reportedly increased in August, which suggests that demand for goods remains strong. Meanwhile, a separate report showed an increase in the number of weekly jobless claims.

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"It remains to be seen if this will reverse the slight downward trend we've seen in the market these past few weeks," said E * Trade Financial managing director Mike Loewengart

Investors also monitor economic outlook amid the outbreak of the Delta strain, rising costs and supply constraints. The United Nations even said it expected the fastest recovery in nearly five decades this year, but warned of widening inequality between developed and developing countries.

"Investors are really trying to weigh the tug-of-war of concerns between how soon will the Fed taper," said Art Hogan, chief strategist at National Securities.

So, even though global economic growth remains above trend, it has reached past highs, setting off a "slowdown". This can be seen through the slackening in income growth.

Other key events for today are:

- data on EU CPI;

- report on US consumer sentiment.

Andrey Shevchenko,
Analytical expert of InstaForex
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