NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Gains Ground As Traders Focus On Tech Tariff Exemptions

SP500

SP500 is moving higher amid rising demand for defensive stocks. Real estate, utilities, and consumer defensive stocks were among the biggest gainers in the SP500 index today. The yield-sensitive real estate and utilities stocks gained ground as Treasury yields pulled back from recent highs. It looks that the situation in the bond markets is stabilizing after recent volatility, which is bullish for SP500. It should be noted that today’s move was broad, and all market sectors gained ground in today’s trading session.

From the technical point of view, SP500 received support in the 5390 – 5400 range and is trying to climb above the 5450 level. In case this attempt is successful, SP500 will head towards the next resistance level at 5500 – 5510. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

NASDAQ

NASDAQ gained ground as Donald Trump announced tech tariff exemptions. He also noted that these exemptions were temporary. Intel, Apple, and Micron were among the biggest gainers in the NASDAQ index today as traders reacted to the latest changes in tariff policy.

NASDAQ has already made several attempts to settle above the resistance at 19,000 – 19,050. If NASDAQ manages to settle above the 19,050 level, it will head towards the next resistance, which is located in the 19,350 – 19,400 range.

Dow Jones

Dow Jones tests resistance at 40,500 – 40,600 amid broad rally in the equity markets. This resistance level has already been tested several times and proved its strength.

In case Dow Jones climbs above the 40,600 level, it will head towards the next resistance at 41,400 – 41,500. On the support side, a move below the 40,000 level will push Dow Jones towards the support at 39,300 – 39,400.

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