NASDAQ Index, SP500, Dow Jones Forecasts – Stocks Rally On Tariff Optimism

SP500

SP500 gains ground as traders react to comments from U.S. Treasury Secretary Bessent, who said that the trade war with China could not be sustained. Thus, he expects that it would de-escalate in the near term. Bessent added that the U.S. did not want to decouple from China. The trade war with China is the key bearish catalyst for markets, so traders rushed to buy stocks after Bessent’s comments were reported by the press. The rally was broad, and all market sectors gained ground in today’s trading session. Treasury yields were mixed. The yield of 2-year Treasuries climbed above the 3.80% level, while the yield of 10-year Treasuries pulled back below 4.40%.

Currently, SP500 is trying to settle above the resistance at 5280 – 5290. In case this attempt is successful, SP500 will move towards the next resistance level at 5390 – 5400.

NASDAQ

NASDAQ rallied on tariff optimism. Strategy, which was up by 8.5%, was the biggest gainer in the NASDAQ index today. The stock moved higher as Bitcoin climbed above the $91.000 level.

If NASDAQ manages to settle above the resistance at 18,100 – 18,150, it will head towards the next resistance level at 18,500 – 18,550.

Dow Jones

Dow Jones gained ground amid broad rally in the equity markets. 3M, which was up by 8%, was the biggest gainer in the Dow Jones index today. The stock gained upside momentum as traders reacted to the company’s first-quarter report.

The nearest resistance level for Dow Jones is located in the 39,300 – 39,400 range. If Dow Jones climbs above the 39,400 level, it will head towards the 50 MA at 39,706. A move above above the 50 MA will open the way to the test of the resistance at 40,000 – 40,100. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.

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