Tony Sycamore, Senior industry Analyst at IG Australia, discussed recent upward trends in major US indices, attributing gains to robust tech sector performance, notably Nvidia’s impressive earnings. Despite hawkish Federal Reserve comments, indices like the Nasdaq and S&P 500 surged, driven by rate cut speculations and strong earnings. Looking forward, key economic data and more Fed speeches are expected to influence markets. Technical study highlighted potential resistance points for indices, suggesting that while the Nasdaq might extend gains, the S&P 500 could face a pullback if it dips below specific support levels.
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