S&P500, Dow Jones Close the Day Lower
The US stock indices such as S&P 500 (US500) and Dow Jones (DJI) are closing another day in retreat today, after ending up down yesterday. However, the main trend is quite bearish and the retreat seems weak, so this seems like a good opportunity to go long on main stock market indices or even in different company shares.
S&P 500 Chart – MAs Should Hold As Support
The S&P 500 and especially the Dow Jones Industrial Average (DJIA) have been fluctuating, which reflects the ongoing uncertainty and volatility in the market this week, however, it will pass as all other retreats this year. While early gains suggested optimism driven by mega-cap growth stocks, the late-session dip underscores the prevailing cautious sentiment among investors.
The market’s current position, below recent historic highs, indicates a period of consolidation and indecision as investors grapple with various factors influencing market direction. The Federal Reserve’s recent dovish stance on monetary policy has provided some support, as investors anticipate potential easing measures in the coming months. However, uncertainties surrounding inflation, interest rates, geopolitical tensions, and global economic conditions continue to weigh on sentiment.
Dow Jones Index Daily Chart – Looking to Buy at MAs
European Indices Closing Changes
- Stoxx 600 +0.3%
- German DAX +0.8%
- UK FTSE 100 +0.2%
- French CAC +0.4%
- Italy MIB +0.2%
- Spain IBEX +0.4%.
The divergence between the performance of the DAX and the underlying economic conditions in Germany is a notable phenomenon. Despite challenges facing the German economy, such as sluggish growth, geopolitical uncertainties, and structural reforms, the DAX has often exhibited resilience and even recorded gains for the sixth day in a row.
S&P 500 Index Live Chart
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