NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Rallies As Palantir Soars 23%

SP500

SP500 gains ground as traders focus on JOLTs Job Openings report for December. The report showed that JOLTs Job Openings decreased from 8.156 million in November to 7.6 million in December, compared to analyst forecast of 8 million. The weaker-than-expected report provided support to stocks as traders bet that Fed will be less hawkish if the job market starts to slow down. Today, traders also had a chance to take a look at the Factory Orders report for December. The report indicated that Factory Orders decreased by 0.9% month-over-month, compared to analyst forecast of -0.7%. Energy stocks were among the biggest gainers in today’s trading session. Traders focused on the rebound in the oil markets, which was driven by Trump’s plans to put maximum pressure on Iran. Utilities and consumer defensive stocks found themselves under pressure as demand for safe-haven assets declined.

SP500 moved above the resistance at 6000 – 6010 and is trying to settle above the 50 MA at 6044. In case this attempt is successful, it will head towards the resistance level at 6090 – 6100.

NASDAQ

NASDAQ tests resistance at 21,550 – 21,600 amid rising demand for tech stocks. Palantir Technologies, which is up by 23%, is the best performer in the NASDAQ index today. The stock gained strong upside momentum as the company beat earnings estimates and raised 2025 guidance.

If NASDAQ settles above the 21,600 level, it will move towards the next resistance level, which is located in the 21,900 – 21,950 range.

Dow Jones

Dow Jones did not gain strong momentum as Merck suffered a strong sell-off. The stock is down by 9.3% as the company halted Gardasil shipments to China.

In case Dow Jones stays above the 44,500 level, it will gain additional upside momentum and move towards the resistance at 44,900 – 45,000.

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