Chat with us, powered by LiveChatFutures Steady as Traders Await Fed Insights and Economic Data

Futures Steady as Traders Await Fed Insights and Economic Data

Futures Steady as Traders Await Fed Insights and Economic Data

Futures Steady as Traders Await Fed Insights and Economic Data

Futures contracts for the S&P 500 and Nasdaq 100 hovered near unchanged levels today, while Dow Jones futures slipped 140 points on Monday. Traders are awaiting fresh developments to assess the economic and monetary policy landscape. This week, attention is on several Federal Reserve officials scheduled to speak, offering potential insights into the timing of the first interest rate cut. Key economic indicators such as retail sales, industrial production, and S&P Global's PMI figures are also anticipated. The NY Empire State Manufacturing Index surpassed expectations but still indicated a decline in business activity. In premarket trading, large-cap stocks showed mixed performance: Apple and Nvidia posted gains of 0.6% and 1.4% respectively, Microsoft remained stable, while Amazon, Meta, and Alphabet saw slight declines. Additionally, Broadcom surged over 3% before the opening bell, building on last week's record-setting gains.

NASDAQ, which continues its strong rally, faces its first resistance level at 20,130. Above this, levels to watch are 20,220 and 20,400 respectively. On the downside, 19,900 serves as the initial support, followed by 19,795 and 19,700 if it falls below that.

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

20,400

20,220

20,130

19,900

19,795

19,700

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