NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Tests Record Highs As Apple Gains 3.4%

SP500

SP500 gains ground as traders stay bullish ahead of the weekend. U.S. President Trump had a call with China’s President Xi Jinping and noted progress in the Tik Tok deal. Any improvements in U.S. – China relations may provide additional support to stocks. Dovish Fed policy outlook serves as an additional bullish catalyst for equities. Basic materials stocks are among the biggest gainers today as traders focus on the strong rebound in precious metals markets. Energy stocks found themselves under pressure as natural gas and oil markets moved lower.

From the technical point of view, SP500 is moving towards the nearest resistance level, which is located in the 6670 – 6680 range. A move above 6680 will push SP500 towards the 6750 level.

NASDAQ

NASDAQ tests new highs as demand for tech stocks remains strong. Apple, which is up by 3.4%, is among the biggest gainers in the NASDAQ index today. The stock gains ground amid signs of strong demand for iPhone 17.

Currently, NASDAQ is trying to settle above the resistance at 24,550 – 24,600. In case this attempt is successful, NASDAQ will move towards the 25,000 level. It should be noted that RSI is in the overbought territory, so the risks of a pullback are increasing.

Dow Jones

Dow Jones is moving higher, supported by strong performance of Apple stock. Chevron, which was down by 1.7%, was the biggest loser in the Dow Jones index today. The stock pulled back as demand for energy shares declined.

Dow Jones continues its attempts to settle above the resistance level at 46,100 – 46,200. If Dow Jones manages to stay above the 46,200 level, it will gain additional upside momentum and move towards the 46,500 level. RSI remains in the moderate territory, so there is enough room to gain momentum in the near term.

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