DOWJONES
Dow Jones Index is trading above the support level of $43,250, and prices are likely to retest the resistance level at $44,000. This scenario would be invalidated if the previously mentioned support level is broken to the downside.
|
Support |
43250 | 42650 | – |
| Resistance | 44000 | 44750 |
– |
The Dow Jones Industrial Average saw a sharp decline of 542.40 points, or -1.2%, closing at 43,588.58 points, affected by several negative factors. Chief among these was the release of weak U.S. jobs data for July, with only 73,000 jobs added and a downward revision for May and June figures, removing 258,000 jobs. This heightened fears of an economic slowdown. Additionally, President Trump announced a new package of tariffs set to take effect on August 7, raising concerns about their impact on trade and U.S. companies especially following the sudden dismissal of the head of the Bureau of Labor Statistics, which sparked doubts about the credibility of upcoming economic data.
This decline reflects weakening investor sentiment and increasing risks surrounding the U.S. economy, particularly with escalating trade tensions and a slowdown in labor market performance. Trading in the coming days is expected to remain sensitive to the earnings results of major companies and shifts in trade policy, which could determine whether the market experiences a technical rebound or continues on its downward path.
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