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23.01.2025 01:01 PM
Stock Market: S&P 500 and NASDAQ Pull Back from Yearly Highs
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After reaching new yearly highs, U.S. stock indices have pulled back slightly. Futures on the S&P 500 lost about 0.1% and continue to trade in the red, while the tech-heavy NASDAQ is down 0.2%. The Dow Jones Industrial Average remains flat. Meanwhile, futures on the Euro Stoxx 50 dropped by 0.2%, while the MSCI Asia Pacific Index rose for the fourth consecutive session, marking its longest winning streak in nearly a month. Gains were driven by mainland Chinese stocks, with the CSI 300 Index rising as much as 1.8%.

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Demand for the S&P 500 has softened slightly, but the decline remains within the bounds of a correction. The main target for buyers today will be to defend the $6069 level. This would help maintain the uptrend and pave the way for a move toward $6079.

Another key priority for bulls is to secure control above $6092, which would further strengthen their position. In the event of a pullback due to waning risk appetite, buyers must defend $6069. A break below this level would likely push the index back to $6058, opening the door to further declines toward $6047.

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Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
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Wave analysis
EUR/USD Analysis on May 28, 2025 The wave structure on the 4-hour EUR/USD chart has transformed into a bullish configuration and continues to follow that trajectory. There is little doubt that this transformation was driven solely
Chin Zhao
19:08 2025-05-28 +02:00
1930
Fundamental analysis
The Euro Is Rushing Things After a rapid rally from February through April, EUR/USD entered a prolonged consolidation phase. For several weeks now, the major currency pair has remained locked within the 1.1100–1.1400 trading range
Marek Petkovich
18:43 2025-05-28 +02:00
1720
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EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
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