SP500 Down Before Yellen Testimony And Cluster Of Fed Speakers – Traders Can Buy Put Options
U.S. stocks drifted lower after early gains on Wednesday as investors were cautiously watching Federal Reserve Chairwoman Janet Yellen’s testimony before the House Financial Services Committee and waiting for the six other Fed speakers that are scheduled to speak later today.
Adding to the downside pressure present in the markets at the moment, oil fell for a second trading day as traders expect to see the three-day meeting in Algeria ending with no deal being reached to freeze/control global crude oil output
At the time of writing, all 11 sectors making up the S&P 500 index ticked lower, led by telecoms and utilities. These two sectors posted the biggest losses amongst all sectors and lost more than 1% each. Energy shares were tracking oil prices lower, giving up earlier gains and trading in negative territory.
Trade suggestion
Buy Digital Put Options from 2150.00 to 2145.00 valid until 20:00 GMT September 28, 2016
