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Dow Jones hits record high as Fed rate cut decision is anticipated

The Dow Jones Industrial Average (Symbol: DJ30) surged to a new all-time high. The DJ30 index closed climbing past previous highs as traders embraced the bullish sentiment driven by expectations of a more accommodative monetary policy stance from the Federal Reserve. The moving averages suggest that momentum is still strong, with the 24-period EMA leading the charge and remaining above both the 50 and 72-period averages. The MACD indicator shows positive momentum, though the histogram is starting to flatten out, potentially signalling a pause in the upward trend. If resistance holds, we might see a minor pullback before testing the next key level. However, if the positive sentiment around further monetary easing continues, the DJ30 could build more gains, supported by technical strength and market optimism. Read more to find out how will the Dow Jones Industrial Average market trend.

DJ30 market trend

Disclaimer:

For short-term traders, the market is set for potential volatility as investors react to the Federal Reserve’s decision. A more aggressive rate cut could fuel further stock gains, but proper risk management is advised, as a smaller cut may lead to profit-taking and downside risk.

Publication date:

2024-09-27 16:47:53 (GMT)

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