NASDAQ Index, SP500, Dow Jones Forecasts – Stocks Move Higher Amid U.S .- China Trade Talks

SP500

SP500 gains some ground as traders focus on U.S – China trade talks in London. According to recent reports, the talks will continue tomorrow. At this point, it looks that U.S. is ready to relax its export controls in the tech space in case China removes restrictions on rare earths. Traders bet that negotiations will be successful as China needs chips while U.S. needs rare earths. It remains to be seen whether U.S. and China are ready to reach a comprehensive trade deal, but any agreement could provide additional support to markets. Most market sectors gain ground in today’s trading session. Consumer defensive and financial stocks have found themselves under some pressure.

From the technical point of view, SP500 continues its attempts to settle above the resistance at 6000 – 6010. If SP500 manages to stay above the 6010 level, it will head towards the next resistance level at 6090 – 6100.

NASDAQ

NASDAQ moved higher as traders focused on trade negotiations. Strategy, which was up by 5.1%, was the best performer in the NASDAQ index today. The stock gained upside momentum as Bitcoin  climbed above the $108,000 level.

NASDAQ is slowly moving towards the resistance level at 21,950 – 22,000. If NASDAQ settles above the 22,000 level, it will head towards the next resistance at 22,250 – 22,300.

Dow Jones

Dow Jones continued its attempts to settle above the nearest resistance level at 42,700 – 42,800. Boeing, which was up by 3.7%, was the best performer in the Dow Jones index today. The stock tested new highs amid reports indicating that the company resumed deliveries to Chinese customers.

In case Dow Jones settles above the 42,800 level, it will move towards the next resistance level, which is located in the 43,200 – 43,300 range.

For a look at all of today’s economic events, check out our economic calendar.