Dow Jones Technical Analysis: Index Closes Cautiously Higher

The Dow Jones Industrial Average rose during its recent trading at the intraday levels, to achieve gains in its last sessions by 1.05%, to add the index to it about 321.83 points. It settled at the end of trading at the level of 31,097.27, after it declined slightly during Thursday’s trading by -0.82 %. During the past week, the index fell by -1.28%. The Dow Jones Industrial Average’s 15.3% drop in the first half of this year was the worst since 1962, pressured by continuing concerns that central banks’ moves to raise interest rates in response to persistently high inflation could lead to deflation in many advanced economies, while stocks closed On Friday’s gains ahead of the Independence Day holiday at the start of the week on July 4, the ISM report showed that high inflation remains a major problem for manufacturers, despite easing price pressures. Meanwhile, the new orders sub-index fell into contraction territory, confirming concerns about a slowing economy.

Michael Cooper

Learn More →