Dow Jones & Nasdaq 100 Rise in Asian Session on Trade Deal Optimism

Rising prices and falling employment may fuel speculation about stagflation, potentially weighing on US stock futures. On the other hand, lower prices could boost bets on a December Fed rate cut.

Beyond the data, traders should monitor Fed speeches closely. Fed calls to maintain or cut rates amid mixed inflation and labor market signals may influence US stock futures.

While US stock futures hover near record highs, stagflation remains a downside risk, potentially derailing the fourth-quarter rally.

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

Following the morning gains, US stock futures remained comfortably above key technical levels, signaling bullish momentum.

The near-term trends will hinge on US Senate votes, economic data, and Fed speakers. Key levels traders should monitor include:

Dow Jones

• Resistance: 48,000, the October 28 record high of 48,214, then 48,250.
• Support: 47,500, 47,000, the 50-day EMA (46,456).