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9 June 2025,06:24

Daily Market Analysis

U.S.-China Trade Optimism Boost Wall Street Sentiment

9 June 2025, 06:24

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Key Takeaways:

*U.S. improved Job data help to boost Wall Steer sentiment.

*U.S. and Chinese delegates set to meet in London for new round of trade talks, boosting Wall Street.

Market Summary:

The S&P 500 advanced modestly in its latest session, closing at its highest level since February and reinforcing a bullish trajectory for the benchmark index. The move was underpinned by stronger-than-expected U.S. employment data, with Nonfarm Payrolls rising by 139,000, surpassing market forecasts. Additionally, solid earnings growth contributed to the upbeat macroeconomic picture, strengthening investor confidence and fueling broader market optimism.

Risk sentiment was further supported by a sharp decline in the CBOE Volatility Index (VIX), which fell to its lowest reading since February, reflecting reduced market uncertainty and an uptick in risk appetite.

Geopolitical developments also played a role in the market’s positive tone. Investor sentiment improved following a reportedly constructive phone call between U.S. President Donald Trump and Chinese President Xi Jinping, which the White House described as a “highly productive dialogue.”

Looking ahead, investor attention is turning to the upcoming round of U.S.-China trade negotiations set to take place in London this week. Market participants are cautiously optimistic that meaningful progress in these discussions could provide an additional catalyst for Wall Street, with the S&P 500 positioned to challenge fresh record highs should sentiment remain constructive.

Technical Analysis:

S&P 500, H4

The S&P 500 has extended its bullish momentum, recently breaking out of a narrow consolidation range and decisively surpassing the key psychological threshold at 6,000. The index is now trading at its highest level since February, underlining continued strength in market sentiment. This breakout follows a steady climb from the 5,950 level and signals a potential continuation of the upward trend.

Tracking ETF SPY, which mirrors the performance of the S&P 500, also reflects this bullish trajectory, reinforcing the broader market move.

From a technical perspective, momentum indicators remain supportive of further upside. The Relative Strength Index (RSI) continues to hold above the neutral 50 level and has begun to rebound, indicating persistent buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) has confirmed a bullish golden cross above the zero line — a classic signal of strengthening upward momentum.

These technical developments suggest that the S&P 500 is well-positioned to sustain its rally, with the potential to challenge fresh record highs in the near term, provided broader market conditions remain supportive.

Resistance levels: 6120.00, 6310.00

Support levels: 5860.00, 5630.00

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