Today’s economic calendar for Monday kicks off another important FOMC week as traders prepare for Federal Reserve Chair Kevin Warsh’s second FOMC meeting on Wednesday. This morning begins with Durable Goods Orders and Capital Goods Orders at 8:30AM ET, followed by Dallas Fed Manufacturing Activity at 10:30AM ET. Treasury auctions continue throughout the afternoon with 2 Year and 5 Year Notes highlighting today’s fixed income calendar.
While today’s data provides insight into business investment and manufacturing activity, the market’s primary focus will remain on Wednesday’s FOMC rate decision and any updates to the Federal Reserve’s policy outlook. As the week progresses, expect markets to become increasingly driven by interest rate expectations, Treasury yields, and positioning ahead of the Fed announcement
Now, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
SPDR S&P 500 ETF Trust (SPY)
SPY is currently trading around 746.01 as markets begin another pivotal FOMC week with traders awaiting Wednesday’s rate decision and updated policy guidance. If buyers defend this level early, a move toward 751.50 may develop, followed by 757.00 if momentum builds into the afternoon. Sustained strength above 762.50 would signal renewed upside momentum as investors position ahead of the Federal Reserve announcement.
If SPY loses 746.01 with conviction, sellers may press into 740.75. A breakdown there could expose 735.50, and continued weakness may bring the 730.25 region into focus. Expect markets to remain sensitive to rates and Treasury yields throughout the week.
Invesco QQQ Trust Series 1 (QQQ)
QQQ is currently trading around 694.80 and continues to consolidate as traders evaluate the outlook for large cap technology. If buyers defend this pivot, a push toward 701.00 may develop, followed by 707.25 if momentum builds. Sustained strength above 713.50 would indicate renewed leadership from growth stocks.
If 694.80 fails to hold, sellers may drive price toward 689.00. A deeper breakdown could expose 683.25, and continued weakness may bring the 677.50 region into play. Technology will likely remain highly sensitive to interest rate expectations.
Apple Inc. (AAPL)
AAPL is currently trading around 334.50 and continues to trade with strong relative strength near recent highs. If buyers defend this pivot, price may rotate toward 340.00, followed by 345.50 if momentum builds. Sustained strength above 351.00 would indicate continued institutional demand and bullish continuation.
If 334.50 breaks lower, sellers may test 329.50 quickly. Continued downside pressure could extend into 324.50, and deeper weakness may bring the 319.50 region into focus.
Microsoft Corp. (MSFT)
MSFT is currently trading around 387.00 and attempting to stabilize after recent weakness. If buyers defend this pivot, price may push toward 393.00, followed by 399.00 if momentum builds. A sustained move above 405.00 would signal renewed upside continuation in large cap technology.
If 387.00 fails to hold, sellers may press into 381.50. A deeper pullback could test 376.00, and continued weakness may bring the 370.50 region into play.
NVIDIA Corporation (NVDA)
NVDA is currently trading around 208.75 and continuing to consolidate after a volatile stretch. If buyers defend this pivot, a move toward 215.75 may develop, followed by 222.75 if semiconductor momentum improves. Sustained trade above 229.75 would indicate renewed upside expansion and stronger participation from chip stocks.
If 208.75 fails to hold, sellers may test 202.75 quickly. Continued downside could extend into 196.75, and deeper weakness may bring the 190.75 region into focus.
Alphabet Inc Class A (GOOGL)
GOOGL is currently trading around 324.00 and working to establish support after recent weakness. If buyers defend this level, price may rotate toward 330.00, followed by 336.00 if momentum builds. Sustained strength above 342.00 would indicate improving upside participation.
If 324.00 fails to hold, sellers may guide price toward 318.00. A breakdown there could expose 312.00, and continued weakness may bring the 306.00 region into play.
Meta Platforms Inc (META)
META is currently trading around 606.00 and continuing to outperform many of its mega cap peers. If buyers defend this pivot, a push toward 613.50 may develop, followed by 621.00 if momentum builds. Sustained strength above 628.50 would indicate continued institutional accumulation.
If 606.00 breaks lower, sellers may guide price toward 599.00. A deeper pullback could test 592.00, and continued weakness may bring the 585.00 region into focus.
Tesla Inc. (TSLA)
TSLA is currently trading around 317.00 and continuing to trade with elevated volatility. If buyers defend this pivot, a move toward 325.00 may develop, followed by 333.00 if momentum continues. Sustained strength above 341.00 would indicate renewed speculative upside participation.
If 317.00 fails to hold, sellers may test 309.50 quickly. Continued downside pressure could extend into 302.00, and deeper weakness may bring the 294.50 region into play.
Final Word: . Good luck and trade safely!
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
