NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Moves Higher As Inflation Rate Drops To 2.4%

Dow Jones has also moved higher, supported by CPI data. Nike, which was up by 3.6%, was the biggest gainer in the Dow Jones index today.

It should be noted that Dow Jones failed to gain strong momentum as traders remained cautious.

From a big picture point of view, traders are not sure whether falling inflation will force the Fed to cut rates at the next meeting.

Currently, Dow Jones is trying to settle above the nearest resistance level, which is located in the 49,500 – 49,550 range. If Dow Jones settles above the 49,550 level, it will move towards the next resistance at 50,100 – 50,200. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

On the support side, a move below the 49,200 level will push Dow Jones towards the support at 48,700 – 48,800.

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