Share: Feed news * TradingPro Dow Jones aesthetic its new record all-time high of 40,346.22 on Monday. The intervention of the Fed continues to dominate market attention as traders await potential cuts. According to the CME’s Tool, the markets are pricing in a 98% chance of a rate reduction in September. Interest rate traders expect the Fed to remain on hold during the meeting at the end of July but some market participants are also considering a possible early cut.
After a decrease in the Consumer Price Index last week that increased hopes for a rate cut, the markets are not too concerned about a rise in the Producer Price Index wholesale inflation. The next economic data to watch for is Tuesday’s Retail Sales in the US, which are expected to remain stable at 0.0% compared to the previous month’s 0.1%.
Dow Jones technical perspective The Dow Jones is currently close to the 40,200.00 mark after achieving a new record high. Daily candlesticks are still above the 200-day Exponential Moving Average (EMA) rising towards 38,000.00.
The Dow Jones has remained bullish since breaking above the 200-day EMA in early November and has increased by almost 20% since hitting a low in October around 32,313.50.
