Chat with us, powered by LiveChatS&P 500 and Nasdaq Futures Climb 0.9%, Dow Jones Gains Over 200 Points

S&P 500 and Nasdaq Futures Climb 0.9%, Dow Jones Gains Over 200 Points

S&P 500 and Nasdaq Futures Climb 0.9%, Dow Jones Gains Over 200 Points

S&P 500 and Nasdaq Futures Climb 0.9%, Dow Jones Gains Over 200 Points

Stock futures in the US surged on Wednesday, as contracts for both the S&P 500 and the Nasdaq climbed approximately 0.9%, while the Dow Jones gained over 200 points following a milder-than-anticipated CPI report. In May, the yearly inflation rate eased to 3.3%, below the projected 3.4%, remaining unchanged from April, and falling short of the expected 0.1% increase. Core inflation dipped to 3.4% annually, marking its lowest point since April 2021. This report preceded the Federal Reserve's latest monetary policy meeting conclusion, where policymakers are anticipated to uphold interest rates and furnish updated economic forecasts, including interest rates. Prior to the opening bell, major tech giants showed significant gains, with Microsoft up by 2.5%, Nvidia by 0.8%, and Alphabet by 0.9%.

The Nasdaq, having surpassed the crucial resistance level of 19400, seems sturdy. Its initial resistance lies at 19500, with subsequent levels at 19700 and 19900 in the event of a breach. On the downside, the first support rests at 19400, which was breached due to lower-than-expected CPI data. Should this level be broken, 19200 and 19000 will emerge as support levels to watch.

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

19,900

19,700

19,500

19,400

19,200

19,000

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