DOWJONES
Dow Jones index is trading in a medium-term uptrend, opening the door for prices to rise and form new highs, while a break below the $52,400 support level may target $51,300 during today’s trading.
|
Support |
52400 | 51300 |
| Resistance | 53300 |
54000 |
Dow Jones index declined during today’s trading under clear pressure from the return of geopolitical risks to the forefront, following escalating tensions between the United States and Iran and rising oil prices, which renewed concerns over inflation and the path of U.S. interest rates.
U.S. and European bond yields rose as demand for safe-haven fixed-income assets weakened, while markets awaited the Federal Reserve’s June meeting minutes. The yield on the 10-year U.S. Treasury note climbed to 4.49%, while the two-year yield rose to 4.13%, despite weak jobs data showing the U.S. economy added only 57,000 jobs in June, compared with expectations of 115,000. In Europe, German bond yields also increased as risk appetite improved and investors awaited clearer signals on the interest-rate path from both the Federal Reserve and the European Central Bank.
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