Stable Performance in U.S. Market: returns for Dow Jones, S&P 500, and NASDAQ Composite indices show signs of consistency
The NASDAQ Composite currently faces a resistance level at 21,800, while the Dow Jones is holding steady around 45,750. A break above the latter could potentially propel the Dow Jones up to 46,600-46,700. The S&P 500 index closed last week at approximately 6,460.26, with a near-term dip to 6,420-6,400 possible.
Meanwhile, the dollar index (DXY) currently stands at 97.77, facing resistance around 98.80. A corrective fall to 96.20-96, a strong support zone, is a possibility for the DXY after a potential rise. Strong sellers are present near 99 for the DXY, and a break below 97 can take the DXY further down to 96.60 and even 96.20-96.
In other news, a federal-state working group meeting is scheduled for July 7, 2025, involving decision-makers and organizations such as the German Federal Ministry of Health, state-level ministers responsible for care, and various associations. The focus of the meeting is to develop ideas for a large nursing reform in the coming months, with a forecast that this working group will actively devise proposals for nursing reform following their initial meeting.
The long-term outlook for the Dow Jones suggests a potential rise to 49,500-50,000, while the long-term outlook for the NASDAQ Composite indicates a potential rise to 26,000. A dip to 21,250-21,200 looks likely in the near term for the NASDAQ Composite, with an eventual break above 21,800 potentially triggering a fresh rise to 22,600 and even 23,500 over the medium term.
The US 10Yr Treasury Yield (4.23 per cent) has failed to rise past the resistance at 4.3 per cent and is vulnerable to break the immediate support at 4.2 per cent. The euro (EURUSD: 1.1685) is getting good support near 1.1580 and 1.15, keeping the short-term bias bullish for the EURUSD pair. Resistance for the EURUSD is in the 1.1730-1.1750 region. A break above 1.1750 can take the euro up to 1.20 in the coming weeks.
The Dow Jones Industrial Average closed last week at approximately 45,544.88, with the support level for the index at 45,050. The short-term outlook for the NASDAQ Composite will turn negative if it declines below 21,200. If that happens, a fall to 20,800-20,700 can be seen. A further break above 6,600 by the S&P 500 can clear the way for a rise to 6,700 and 6,800 over the medium term.
Stay tuned for more updates as these market trends and policy developments continue to unfold.
