Dow Jones & Nasdaq 100: Weaker Yen Lifts US Futures in Asian Trade

FOMC Members in Focus

Futures had a mixed Asian morning session. The Dow Jones E-mini rose 115 points, and the S&P 500 E-mini gained 4 points. Meanwhile, the Nasdaq 100 E-mini dropped 16 points, weighed down by Oracle and Broadcom. Oracle tumbled 10.83% overnight as investors reacted to the company’s significant spending and weak forecasts, raising concerns about the timing of returns on investments.

Later on Friday, traders should monitor FOMC members’ speeches after Wednesday’s dot plot signaled a single 2026 Fed rate cut. Dovish Fed rhetoric would lift sentiment, supporting a bullish short- to medium-term outlook for US stock futures.

According to the CME FedWatch Tool, the chances of a March Fed rate cut increased from 42.2% on Wednesday, December 10, to 49.6% on December 11. Higher-than-expected US jobless claims raised bets on a March Fed rate cut, sending the Dow Jones E-mini futures to an all-time high.

Key Technical Levels for Dow Jones, Nasdaq 100, and S&P 500

Despite the mixed morning, the Dow Jones E-mini, the Nasdaq 100 E-mini, and the S&P 500 E-mini remained above their 50-day and 200-day EMAs, indicating a bullish bias.

Near-term trends will hinge on BoJ rhetoric, 10-year US Treasury and JGB yields, USD/JPY trends, and Fed commentary. Key levels to monitor include:

Dow Jones

• Resistance: December 12 record high of 48,883, and then 49,000.
• Support: 48,750, 48,000, 47,500, and then the 50-day EMA (47,176).