27 Apr 2016
US stocks end mostly higher after Fed leaves rates unchanged
US stocks posted modest gains on Wednesday after the Federal Reserve left interest rates unchanged and removed reference to the global and financial developments posing risks to domestic outlook.
Even though the Fed sounded slightly hawkish, it gave no clear signs of an imminent rate hike at next meeting.
The Dow Jones Industrial Average rose 51 points, or 0.28%, to 18,041. The S&P 500 gained 3 points, or 0.16%, to 2,095. However, the Nasdaq lost 25 points, or 0.51%, to close at 4,863 as Apple Inc. equities plummeted after second-quarter earnings missed expectations.
DJIA technical view
“The DJIA surged to a weekly high of 18,084 before closing at the mentioned level, and the daily chart presents a modest bullish tone, as the index continues consolidating within last week’s range and above a mild bullish 20 SMA, whilst the technical indicators are slowly gaining upward strength, but continue to lack momentum,” said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart shows that the index advanced above a still flat 20 SMA, whilst the Momentum indicator heads sharply higher within positive territory, and the RSI turned flat around 58, favoring the upside, particularly on an advance beyond the mentioned daily high.”
Support levels: 17,982 17,919 17,826. Resistance levels: 18,084 18,165 18,220.
Even though the Fed sounded slightly hawkish, it gave no clear signs of an imminent rate hike at next meeting.
The Dow Jones Industrial Average rose 51 points, or 0.28%, to 18,041. The S&P 500 gained 3 points, or 0.16%, to 2,095. However, the Nasdaq lost 25 points, or 0.51%, to close at 4,863 as Apple Inc. equities plummeted after second-quarter earnings missed expectations.
DJIA technical view
“The DJIA surged to a weekly high of 18,084 before closing at the mentioned level, and the daily chart presents a modest bullish tone, as the index continues consolidating within last week’s range and above a mild bullish 20 SMA, whilst the technical indicators are slowly gaining upward strength, but continue to lack momentum,” said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart shows that the index advanced above a still flat 20 SMA, whilst the Momentum indicator heads sharply higher within positive territory, and the RSI turned flat around 58, favoring the upside, particularly on an advance beyond the mentioned daily high.”
Support levels: 17,982 17,919 17,826. Resistance levels: 18,084 18,165 18,220.