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Liz Thomas: S&P 500 hovers around 50-day moving average, key levels in focus
Liz Thomas highlights that the S&P 500 index has been oscillating around its 50-day moving average over the past three days.
According to her, a break below this level could send the index down to 7313, which represents the 23.6% retracement level and an area of previous support. Alternatively, a rebound might enable stocks to make a play for all-time highs.
Thomas previously noted June's U.S. private sector job growth from ADP and Revelio, which suggested a strong nonfarm payrolls report was likely to follow. She has also covered the Japanese yen's fall to its lowest level against the U.S. dollar since 1986 earlier this year. These reports add recent labor and currency moves to her market coverage.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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