NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Gains Ground As Gilead Sciences Soars 8%

SP500

SP500 gains ground as traders stay bullish ahead of the weekend. Basic materials stocks are among the biggest gainers today as traders focus on gold futures, which have tested all-time high levels due to potential U.S. tariffs on imports of gold bars. Healthcare and financial stocks also managed to gain strong upside momentum in today’s trading session. Real estate and utilities stocks moved lower as traders reacted to rising Treasury yields. Falling demand for safe-haven assets served as an additional bearish catalyst for utilities stocks.

SP500 settled above the support level at 6340 – 6350 and is trying to settle above the 6400 level. In case this attempt is successful, SP500 will head towards the nearest resistance level, which is located in the 6430 – 6440 range.

NASDAQ

NASDAQ is moving higher amid strong demand for tech stocks. Micron and Apple are among the biggest gainers in the NASDAQ index today. Gilead Sciences gained 8% as traders reacted to the better-than-expected earnings report.

Currently, NASDAQ is trying to settle above the 23,600 level. If NASDAQ manages to settle above this level, it will move towards the resisrance at 23,700 – 23,750. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

Dow Jones

Dow Jones is moving higher, supported by the strong performance of Apple stock. Shares of Apple continue to rally as traders focus on the company’s decision to invest an additional $100 billion in the U.S.

From the technical point of view, Dow Jones attempts to settle above the 50 MA at 44,194. If Dow Jones settles above the 50 MA, it will head towards the nearest resistance level at 44,500 – 44,600. A move above 44,600 will push Dow Jones towards July highs near the 45,100 level.

For a look at all of today’s economic events, check out our economic calendar.