Dow Jones Index Rebounds As Markets Absorb FOMC Minutes
Dow futures are up on Wednesday as investors get over the hawkish FOMC minutes. As a result, the futures tracking the benchmark index of the blue-chip stocks were up 30 points till press time.
The positive sentiment in the markets is supported by the Q3 earnings report of the tech giant Nvidia, which revealed record profits for the AI hardware manufacturer. This shift in market sentiment is very interesting as the Dow Jones Index lost 63 points on Tuesday.
Analysts are expecting the markets to open in green on Wednesday due to multiple tailwinds. However, Dow futures are lagging behind the Nasdaq 100 index on the higher timeframe. While the latter has already made fresh yearly highs, the former is still trading 1.8% below this year’s high.
However, if the bullish sentiment is sustained and inflation doesn’t show an abnormal increase in November, there is still a fair chance that the Dow Jones index might refresh its yearly peak above 35,600 before the end of this year.