Dollar Tumbles to Three-Month Low

U.S. Stock Market

U.S. stocks closed higher on Thursday, thanks to gains in the Oil & Gas, Industrials and Technology sectors. The Dow Jones rose by 0.94%, the S&P 500 increased 0.95%, and the NASDAQ added 0.80%. Technically, according to the daily chart, the S&P is trading below the resistance of 2,965, which may lead the index down towards 2,650, although breaching above the line could take it higher still.

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Dollar Drops after Fed Hints at Rate Cut

U.S. Stock Market

U.S. stocks closed higher yesterday, thanks to gains in the Healthcare, Utilities and Consumer Services sectors. The Dow Jones rose by 0.15%, the S&P 500 grew 0.30%, and the NASDAQ added 0.42% to its value. Technically, according to the daily chart, the Dow is holding below the resistance of 26,700, which may send the index down towards 25,000. However, breaching above this line could take it to around 27,000.

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Trump Trashes ECB in Tweetstorm

U.S. Stock Market

U.S. stocks closed higher on Tuesday, thanks to gains in the Technology, Industrials and Oil & Gas sectors. The Dow Jones rose 1.35%, the S&P 500 was up 0.97%, and the NASDAQ climbed 1.39%. Technically, according to the daily chart, the Dow is trading below the resistance of 26,770. If this remains the case, a drop to around 25,800 is expected. However, breaching above the line may lead to a rise towards 27,000.

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New York Numbers Let Down Dollar

U.S. Stock Market

U.S. stocks traded flat on Monday ahead of the two-day FOMC meeting and after a dismal U.S. regional manufacturing report supported expectations that the Fed could deliver a rate cut as early as July. The Dow Jones rose by 0.09%, the S&P 500 was up 0.09%, and the NASDAQ added 0.65% to its value. Technically, according to the daily chart, the S&P is trading below the resistance of 2,950 and is now widely expected to drop back to around 2,750. However, breaching above the line could take the index up towards 3,050.

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Retail Drat Drives Up Dollar

U.S. Stock Market

U.S. stocks were mixed on Friday, as shares in chipmakers dropped after a warning from major player Broadcom, and with Chinese data pointing to the worst slowdown in industrial growth in 17 years. The Dow Jones fell by 0.2%, while the S&P 500 rose by 0.2%, and the NASDAQ lost 0.5% of its value. Technically, according to the 4-hour chart, the NASDAQ is trading near the upper Bollinger band, supported by positive overall momentum. Under these conditions, the index may climb towards 7,600 but falling towards the mid-band could take it down to around 7,300. A Fed meeting this week may provide the acid test of market expectations that the U.S. central bank could cut rates as often as three times this year.

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Possible U.S. Rate Cut on Minds of Traders

U.S. Stock Market

U.S. stocks traded higher on Thursday after two days of declines, as energy shares rebounded amid concerns of an Oil supply disruption following attacks on two tankers in the Gulf of Oman. The Dow Jones rose by 0.39%, the S&P 500 was up 0.43%, and the NASDAQ added 0.57% to its value. Technically, according to the 1-hour chart, the Dow is trading below the resistance of 26,200, which makes a fall to around 26,000 likely. However, breaching above the line may lead to a rise towards 26,300.

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Prospects of U.S. Rate Cut Rising

U.S. Stock Market

U.S. indices traded lower on Wednesday, with bank stocks declining as prospects of a U.S. interest rate cut rose and energy shares tumbled along with Oil prices. The Dow Jones fell by 0.17%, the S&P 500 dropped 0.21%, and the NASDAQ lost 0.38% of its value. Technically, according to the 1-hour chart, the S&P is trading above a bullish trend line. This could push it higher towards 2,950, while falling below the line may start a strong reversal in the direction of 2,740.

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“Cheapest Internet Stock” Facebook Flies

U.S. Stock Market

U.S. stocks traded lower as investors paused following a run of gains tied to optimism over easing trade tensions and the prospect of an interest rate cut by the Federal Reserve. The Dow Jones fell by 0.05%, the S&P 500 dropped 0.03%, and the NASDAQ lost 0.01% of its value. Technically, according to the daily chart, the Dow is trading below a strong resistance of 26,770, which makes a fall to around 25,800 likely. However, breaching above the line may lead to a rise towards 27,000.

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Stocks Soar as Trump Drops Mexican Tariffs

U.S. Stock Market

U.S. stocks traded higher after the United States dropped plans to impose tariffs on Mexican goods after striking a wide-ranging deal on immigration. The Dow Jones rose by 0.30%, the S&P 500 increased 0.47%, and the NASDAQ added 1.05% to its value. Technically, according to the daily chart, the S&P is trading below the resistance at 2,950 and is now widely expected to drop back to around 2,750. However, breaching above the line could take the index up towards 3,050.

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Uninspiring Jobs Data Dulls the Dollar’s Edge

U.S. Stock Market

U.S. stocks traded higher after May’s weak jobs report increased speculation that the Federal Reserve will cut interest rates. The Dow Jones rose by 1.02%, the S&P 500 was up 1.05%, and the NASDAQ added 1.66% to its value. Technically, according to the 4-hour chart, the NASDAQ is trading above the support at 7,290. As long as this remains the case, a rise towards 7,550 can be expected. However, breaking below the line may lead to a small retracement back to around 7,100.

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