Nasdaq Edges Higher Ahead of U.S. Retail Sales Data and FOMC Meeting
The price is expected to maintain its bullish trend towards 19,690 as the initial target. Stability above 19,690 will further support an upward move towards 19,970 and beyond. Conversely, a break below 19,370 would indicate a downward trend towards 19,160.
Futures Hold Steady as Investors Await Fed Rate Cut
U.S. stock index futures remained subdued on Wednesday as investors cautiously awaited the Federal Reserve's interest rate cut—the first in over four years. Most traders are now anticipating a half-percentage-point reduction.
The price has retested the pivot line and subsequently pushed higher, signaling a continuation of the bullish trend toward 19,670. Sustained stability above this level is expected to drive the trend further towards 19,970 and 20,100. Overall, market conditions are anticipated to remain volatile.