NASDAQ Index, SP500, Dow Jones Forecasts – NASDAQ Tests Weekly Lows

Market Overview

Major indices are retreating from historic highs as concerns grow over the weakening job market. Treasury yields declined amid expectations that the Federal Reserve might cut rates due to labor market softness. Today's pullback is broad, with most sectors losing ground.

S&P 500 Performance

The S&P 500 fell below its support zone of 6765–6775 and attempted to close under 6700. A settlement below 6700 could push the index toward the next support between 6680 and 6690. The RSI remains moderate, indicating room for momentum if favorable catalysts emerge. Consumer cyclical stocks were among the largest decliners, while energy stocks gained, buoyed by a rally in natural gas markets.

NASDAQ Movements

NASDAQ declined as investors sold tech shares amid valuation worries. Advanced Micro Devices and NVIDIA were significant losers. The index’s nearest support is at 25,150–25,200; falling below 25,150 may lead to a drop toward 24,700–24,750. The Strategy sector fell 4.6%, pressured by Bitcoin's weakness.

Dow Jones Insight

Dow Jones tested new lows amid a broad market downturn. Most stocks in the index faced selling pressure, with IBM and Merck standing out as the only notable gainers.

Traders worry that the situation in the job market continues to deteriorate.
Treasury yields moved lower as traders bet that Fed will cut rates due to the weak labor market.
SP500 moved below the support at 6765 – 6775 and made an attempt to settle below the 6700 level.
Advanced Micro Devices and NVIDIA were among the biggest losers in the NASDAQ index today.
Dow Jones tested new lows amid broad pullback in the equity markets.

Summary: Market indices are broadly retreating with concerns over the job market and tech valuations, while energy stocks show resilience amid a sector-wide pullback.

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FX Empire FX Empire — 2025-11-06

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