NASDAQ Index, SP500, Dow Jones Forecasts – Stocks Gain Ground As Traders Bet On Ceasefire

SP500 Moves Higher On Ceasefire Optimism

SP500 gains ground as traders react to the weaker-than-expected ISM Services PMI report and focus on Trump’s comments on Iran.

ISM Services PMI decreased from 56.1 in February to 54.0 in March, compared to analyst forecast of 55. Numbers above 50 show expansion.

The report indicated that Business Activity Index declined from 59.9 in February to 53.9 in March, which was its lowest reading since September 2025.

Iran rejected the ceasefire proposal from the U.S. and said that it wanted to negotiate a permanent end of the conflict. The country wants to maintain full control of the Strait of Hormuz after the war ends.

In turn, U.S. President Trump said that Iran would be decimated in case the country did not agree to a deal. Trump threatened to eliminate Iran’s power plants and bridges. He added that free flow of oil through the Strait of Hormuz would be included in any deal with Iran.

It is not clear whether Iran’s public statements correctly reflect its negotiating position. Oil prices gained some ground, but traders were cautious despite hawkish comments from Trump.

Most market sectors moved higher in today’s trading session. Basic materials stocks moved lower as traders focused on the pullback in precious metals markets.

The nearest resistance level for SP500 is located in the 6640 – 6650 range. If SP500 manages to settle above the 6650 level, it will move towards the next resistance at 6760 – 6770. RSI remains in the moderate territory, so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

NASDAQ Gains Ground Amid Rising Demand For Chip Stocks

NASDAQ moved higher as demand for tech stocks increased despite rising tensions in the Middle East. Traders are ready to bet that the war in the Middle East could end soon.

Strategy, which was up by 6.3%, was among the biggest gainers in the NASDAQ index today. The stock gained ground as Bitcoin climbed towards the psychologically important $70,000 level.

Chip stocks have also enjoyed rising demand in today’s trading session. Micron gained 3.3% as traders bet that AI memory demand will continue to grow despite worries about high costs. Seagate and Western Digital have also gained solid upside momentum.

From the technical point of view, NASDAQ settled back above the support at 24,000 – 24,050 and is moving towards the resistance level at 24,350 – 24,400. In case NASDAQ climbs above the 24,400 level, it will head towards the next resistance at 24,950 – 25,000.

Dow Jones Tests Resistance At 46,600 – 46,700

Dow Jones is moving higher, supported by rising demand for consumer and industrials stocks. Boeing, which is up by 1.7%, is the biggest gainer in the Dow Jones index today.

Currently, Dow Jones attempts to settle above the resistance level at 46,600 – 46,700. If Dow Jones manages to settle above the 46,700 level, it will move towards the next resistance, which is located in the 47,400 – 47,500 range.

On the support side, a move below the 46,400 level will push Dow Jones towards the 50 MA at 46,087. In case Dow Jones declines below the 50 MA, it will head towards the support level at 45,700 – 45,800.

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