Weekly Insights
This week, markets remain focused on a mix of political, economic, and sectoral drivers:
- US Government Shutdown: Ongoing uncertainty looms over the potential shutdown and its market repercussions.
- Indices at All-Time Highs: Major benchmarks including the Dow, US500, and US100 continue to hover near record levels.
- Berkshire Hathaway: Sitting on record cash reserves, Warren Buffett’s firm signals caution in deploying capital at elevated valuations.
- OPEC: Planning another output hike in November, which could put renewed pressure on oil markets and inflation expectations.
- Fund Flows: US large-cap equity funds attracted a net inflow of $16.94 billion — the largest weekly addition since April 9.
- Macro Spotlight: Friday’s US Non-Farm Payrolls will provide crucial direction for interest rate cut expectations.
Major Indices
US30 (Dow Jones)
Last week the Dow posted a high of 46,722, a low of 45,783.2, and closed at 46,250.3.
Key levels to watch this week:
- Immediate support at 46,220 and 45,890
- Major Resistance near 46,700
The index is consolidating close to its highs. A decisive break above 46,700 could open further upside, while failure to hold 45,890 would indicate weakening momentum.
US500 (S&P 500)
Last week the S&P 500 recorded a high of 6,699.10, a low of 6,569.4, and closed at 6,644.2.
Key levels to watch this week:
- Immediate support at 6,622
- Secondary support at 6,590
- Major resistance at 6,697.7
The index is trading near the top of its recent range. A breakout above 6,697.7 could drive further upside momentum, while a slip below 6,590 may trigger profit-taking.
US100 (Nasdaq 100)
Last week the Nasdaq 100 posted a high of 24,784.3, a low of 24,183.9, and closed at 24,498.8.
Key levels to watch this week:
- Immediate support at 24,316
- Secondary support at 24,198
- Higher resistance at 24,785.2
The index is holding above key support zones. A sustained move over 24,785.2 would point to renewed bullish momentum, while weakness below 24,198 could pressure sentiment.
DAX 40
Last week the DAX recorded a high of 23,776.63, a low of 23,388.33, and closed at 23,764.38.
Key levels to watch this week:
- Immediate support at 23,545
- Secondary support at 23,415
The DAX is trading close to its highs, showing resilience despite eurozone political and economic headwinds. Holding above 23,545 keeps the bullish tone intact.
Overall, global indices remain near record levels, but volatility may rise with US Non-Farm Payrolls and OPEC developments in focus.
Macro Economic Calendar
| Date | Time (UK) | Event |
|---|---|---|
| Sep 30 | 14:45 | Chicago PMI |
| Sep 30 | 15:00 | JOLTS Job Openings |
| Oct 1 | 15:00 | ISM Manufacturing PMI |
| Oct 2 | 13:30 | Initial Jobless Claims |
| Oct 3 | 13:30 | Non-Farm Payrolls / Unemployment Rate |
Earnings Calendar
| Date | Before Open | After Close |
|---|---|---|
| Sep 30 (Mon) | — | Progress Software (PRGS) |
| Oct 1 (Tue) | United Foods (UNFI) | Nike (NKE) |
| Oct 2 (Wed) | — | — |
| Oct 3 (Thu) | — | — |
| Oct 4 (Fri) | — | — |
Market conditions can change rapidly — always do your own research and trade with caution.