Dip buyers set to be rewarded for their efforts yesterday? ...Middle East

Throughout the entirety of 2024, the S&P 500 only firmly broke below the key level once. That came during the August market panic and it was a brief one, lasting for only four sessions.

At some point, there will be a correction and we might arguably be overdue one. But for now, dip buyers are not throwing in the towel just yet. And they might just get rewarded for that after the Bloomberg report saying Trump's economic team is exploring options for a less bombastic tariffs approach to begin with.

Besides headline risks, we will also have economic data to look forward to in dictating market sentiment this week. US data is back in focus with the CPI report tomorrow. For today, there will be the PPI report to kick things off. And on Thursday, there is the weekly jobless claims and retail sales data to work through.

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This article was written by Justin Low at www.forexlive.com.

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