FX.co ★ US stock market still correcting. Forecast for May 20, 2021

S&P 500

The top business media headlines are as follows: Stock markets fall; Investors lose appetite for risk; Stocks and commodity prices decline.

However, it is not true. The US indices fell yesterday but moderately. The Dow Jones Industrial Average and S&P 500 were down 0.5% and 0.3% respectively, while tech stocks hardly changed.

The chart above shows that US stocks opened with a strong downward gap of 2%, approached the support level in the form of the 50-day moving average, and rebounded upwards.

Today, the report on unemployment claims from the United States is in the focus of market participants.

As for the situation in Israel, the intensity of shelling from Gaza declined. There was practically no shelling at night.

US stocks fell, and oil prices followed suit. The oil market declined but then made an upward rebound. Data on crude oil inventories turned out to be uncertain.

According to the FOMC meeting minutes, the regulator is ready to support economic growth, but a wage hike of 4.2% surprisingly coincided with a spike in inflation in April by the same 4.2%...

Traders are awaiting jobs data from the United States.