NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Gains Ground As NVIDIA Tests Weekly Highs

SP500

SP500 gains ground as traders shrug off worries about the negative impact of tariffs. Donald Trump plans to impose 25% tariffs on aluminum and steel imports. Interestingly, bond traders are not worried that new tariffs will boost inflation, and the yield of 2-year Treasuries pulled back below the 4.27% level. Falling Treasury yields provide additional support to SP500. Energy stocks are among the biggest gainers in the index today as traders focus on the strong rebound in the oil markets. Healthcare and financial stocks have found themselves under pressure in today’s trading session.

In case SP500 settles above the 6070 level, it will head towards the nearest resistance at 6090 – 6100. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

NASDAQ

NASDAQ is moving higher amid strong demand for tech stocks. NVIDIA continues to rebound after the sell-off which was triggered by DeepSeek’s success. The stock gained 3.6% in today’s trading session and tested weekly highs.

NASDAQ managed to settle above the previous resistance at 21,550 – 21,600 and is trying to climb above the 21,800 level. In case this attempt is successful, NASDAQ will head towards the next resistance level, which is located in the 21,900 – 21,950 range.

Dow Jones

Dow Jones continues its attempts to settle above the nearest resistance level at 44,400 – 44,500. McDonald’s, which was up by 5%, was the best performer in the Dow Jones index today. The company’s earnings missed analyst expectations. However, its fourth-quarter comparable sales exceeded estimates, providing significant support to the stock.

If Dow Jones climbs above the 44,500 level, it will get to the test of the 50 MA at 44,590. A move above the 50 MA will push Dow Jones towards the next resistance at 44,900 – 45,000.

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