S&P 500 reaches new high, but consolidation expected, Nasdaq defends support

From Investing.com: 2024-08-30 03:23:00

The S&P 500 set a new record, while other indexes closed flat as investors considered Nvidia’s earnings and strong US economic growth. Although the S&P 500 was expected to reach new highs, it is now consolidating sideways. The Nasdaq is defending local support near 18,000 points, limiting a deeper decline. The DAX broke records, reaching 19,000 points, with potential for further gains if the ECB eases monetary policy. Key levels to watch include a breakout for the S&P 500 and recent peaks acting as support for the DAX. Market anticipates upcoming inflation report.



Read more at Investing.com: S&P 500: ATH Test Still in the Cards – Watch Out for a Consolidation-Zone Breakout