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

SP500

SP500 gains ground as traders focus on weak economic reports and bet on dovish Fed. Retail Sales increased by +0.2% month-over-month in September, compared to analyst forecast of +0.4%. Retail Sales ex Autos grew by +0.3%, compared to analyst consensus of +0.4%. PPI increased by +0.3% month-over-month, in line with analyst expectations. Core PPI grew by +0.1%, while analysts expected that it would increase by +0.2%. The lower-than-expected Core PPI report indicates that inflation remains under control. Today, traders also had a chance to take a look at CB Consumer Confidence report for November. The report showed that CB Consumer Confidence decreased from 94.6 in October to 88.7 in November, compared to analyst forecast of 93.4. The CB Consumer Confidence report had a bigger impact on market dynamics as Retail Sales and PPI reports covered the September 2025 period.

Currently, SP500 is trying to settle above the resistance at 6750 – 6760. In case this attempt is successful, SP500 will move towards the next resistance level, which is located in the 6870 – 6880 range.

NASDAQ

NASDAQ gained some ground despite the pullbacks in leading chip stocks. Advanced Micro Devices and NVIDIA were among the biggest losers in the NASDAQ index today. The stocks moved lower amid reports indicating that Meta planned to buy Google’s AI chips.

In case NASDAQ manages to settle above the 25,000 level, it will head towards the nearest resistance at 25,200 – 25,250. RSI is in the moderate territory, so there is plenty of room to gain momentum in the near term.

Dow Jones

Dow Jones rallied, supported by strong demand for healthcare and consumer cyclical stocks.

The nearest resistance level for Dow Jones is located in the 47,100 – 47,200 range. A successful test of this level will open the way to the test of the next resistance at 47,900 – 48,000.

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