Global equity markets were mixed in the overnight with U.S. stocks holding steady ahead of global central bank policy meetings this week. The market will be closely monitoring the Federal Reserve’s policy meeting regarding expectations of future interest rate cuts despite recent soft inflationary data and slowing growth amid ongoing trade tensions. In addition, the BoE and BOJ will be meeting with Europe taking direction from the European Central Bank’s forum in Portugal – similar to the Fed’s Jackson Hole Symposium – with Draghi set to speak later this evening. The S&P 500 has largely consolidated and appears to have found some psychological resistance around 2900 with the current range seen between 2793 – 2924.
E-Mini S&P 500 Sep ’19 Daily Chart