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HinduBusinessLine

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US Market Outlook: Dow Jones, S&P 500 & NASDAQ Composite consolidate before next leg of rise

  • The Dow Jones, S&P 500, and NASDAQ Composite are consolidating before a potential further rise, with the broader picture suggesting a positive outlook.
  • Dow Jones is hovering below the key resistance level of 45,050, with short-term positivity towards 46,500, but a corrective dip to 43,500 or 43,000 possible before another rise.
  • S&P 500 hit a new high of 6,290.22, closed the week slightly down, with short-term support at 6,200, and a potential rise to 6,350-6,400, aiming for 6,800 over the medium term.
  • NASDAQ Composite saw a bounce back from a low of 20,323, with short-term bullish outlook towards 21,500-22,000, and a medium-term target of 23,000-24,000, contingent on staying above 20,000.

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