Nasdaq Continues Uncertain Movements, Investors Await Fed Chairman's Comments

S&P 500 futures and Nasdaq 100 futures declined by 0.1% and nearly 0.3%, respectively. Traders were eagerly awaiting today's comments from Federal Reserve Chairman Jerome Powell. The sharp rally in November was partly due to traders beginning to believe that the Fed had completed its rate hikes and could even start cutting rates in the first half of next year. The Federal Reserve's next interest rate decision is scheduled for December 13.

Stock markets ended a record-breaking November on Thursday, breaking a three-month losing streak. The S&P and Nasdaq posted gains of 8.9% and 10.7% respectively, their strongest monthly performance since July 2022.

The Nasdaq continues its uncertain movements and clearly shows that neither the bullish nor the bearish side can determine the direction of the market. The market has entered an overbought state, as indicated by the Relative Strength Index (RSI). Investors are closely monitoring these developments to guide their decisions on market direction.