Nasdaq 100 Index, S&P 500, and Dow Jones Projections: DJIA Hits Fresh Peaks Amidst Increased Interest in financial shares
Major Highlights
The S&P 500 is essentially straight as investors remain wary prior to the subsequent US Fed rate vote.
Nasda1 100declines in momentum as investors take capital off the board prior to technology firms’ quarterly reporting.
The Dow Jones Industrial Average advances, aided via the robust success of financial companies.
S&P 500
S&P Daily Graph ( Four- Hour Interval)
Source: TradingView
The S&P 500 is fluctuating among increases and decreases as markets respond to current economic headlines. The JOLT positions grew from 8.925 Mil in Nov to 9.026 Mil in Dec, showing the solidity of the job market. The consumer confidence rose from 108 during Dec to 114.8 on Jan, against expert expectations of 115 point. The markets weren’t responding strongly to these gossip, as investors remained wary before the U.S Fed’s ruling. That will be announced on Friday. The US central bank is likely to keep the interest rate steady, so markets will concentrate on Powell’s remarks. Markets for stocks have reached record levels. Therefore, Powell’s statements may have a significant impact on the price of shares. Aggressive statements may set off an explosion of profit-seeking.
The closest S&P 500 supporting area is between 4900 and 4910. If the S&P 500 index falls beneath 4900 mark, it will fall to the following supportive level of 4850 to 4865 level.
Nasdaq 1oo
The Index falls as speculators grab gains at record highs. The AMD is leading the decline, with a decline of four percent in the present-day trade period. Investors opted to sell Advanced Micro Devices shares prior to current results announcement. That is expected to be disclosed following the stock market closes.
Nasdaq 1oo is attempting to come down under the key support level of 17,450 – to 17,500. If this effort succeeds, then the NASDAQ will move on to the subsequent supporting threshold, which lies between 16,950 and 17,000 level.
DJIA Index
The Dow Jones Industrial Average reaches record levels, buoyed by solid growth in financial companies. The JPMorgan Chase & Co., Goldman Sachs, Citigroup, and Visa make up the Dow Dow’s ‘s leading winners. The RSI indicator has lately entered overheated zone, raising the chance of a downturn.
DJIA- Four-Hourly Grapgh
Source: TradingViews
