Stock indices have performed well over the past few days. A notable example is the Dow Jones, which has risen for three consecutive days with a positive Dow Jones forecast. Investors are determined to maintain the upward momentum in the stock market to close the year on a positive note. The Dow Jones increased by 0.43% in the last session, reaching its highest point since January 2022. As for the S&P 500, it managed to climb by 0.39% during the same period. Finally, the Nasdaq Composite increased in value by 0.20%.
The relatively weaker performance of the Nasdaq suggests that most of the growth did not come from the tech sector.
Overall, the S&P 500 and Dow Jones have had a phenomenal few weeks, making it a great time to invest in the Dow Jones. Both have seen six consecutive weeks of growth. Besides Dow Jones technical analysis, investors are now eagerly awaiting more inflation data to make informed future decisions. This data could significantly impact future stock market prices and will undoubtedly influence the Federal Reserve’s decisions regarding interest rates.
Investors Eagerly Awaiting Tuesday’s Central Bank Meeting
So far, the economic data being released could change the Dow Jones forecast, potentially diverging from recent trends. The Consumer Price Index (CPI) data for November is due out this Tuesday, with Producer Price Index (PPI) data following on Wednesday. Analysts anticipate that these data releases will indicate higher inflation levels than the current ones. While these experts do not believe this necessarily implies an increase in interest rates, it could mean that rate cuts are further away.
Consequently, experts expect the Federal Reserve to maintain interest rates in the range of 5.25% to 5.50% for the time being. They anticipate that Fed officials will reiterate their commitment to this rate level for now.
