The Dow Jones Index Records Its Highest Closing In About Two Years.

Market News Summary

European stocks ended the trading session on Monday, December 11, in the green after morning losses, as attention turns to the upcoming meeting of the Federal Reserve this week.

European markets recovered from morning losses to close up by about 0.4%. Media stocks led the gains with a 1.2% increase, while companies in the mining sector continued to struggle, recording a decline of 0.9%.

Dollar Index (USDX)

The dollar rose by 0.1% against rival currencies, and investors are eagerly awaiting the release of Consumer Price Index (CPI) data scheduled for today, Tuesday. It is expected that the core inflation will remain unchanged in November, followed by the Producer Price Index (PPI) and the Federal Reserve’s final interest rate decision of the year on Wednesday.

The dollar index is currently trading near its pivot point at $103.95.

Pivot point: 104.05

Resistance level	Support level
104.20	103.85
104.40	103.65
104.70	103.40

Spot Gold (XAUUSD)

Gold prices declined on Monday, December 11, amid a rise in the dollar, while investors are anticipating several key central bank meetings and the release of U.S. inflation data this week to gain more insights into the trajectory of interest rates.

Gold dropped in spot trading to reach $1996 per ounce during yesterday’s sessions before rising slightly in the early sessions on Tuesday. It is currently trading below its pivot point at $1984 per ounce.

Pivot point: 1988

Resistance level	Support level
1995	1975
2001	1969
2009	1956

Nasdaq Index (NAS100)

U.S. indices closed with modest gains on Monday ahead of the release of important economic data this week, which is expected to strongly influence interest rate expectations. Market observers anticipate that the Federal Reserve may have completed its cycle of interest rate hikes and is likely to cut rates in the first half of next year. These expectations have contributed to the recent stock market rally, leading all three major indices to reach their highest closing levels of the year.

The Dow Jones index rose by approximately 0.4%, equivalent to 157 points, closing at its highest level since January 2022. The S&P 500 and Nasdaq indices also increased by 0.4% and 0.2%, respectively, recording their highest closing levels in 20 months.

Pivot point: 16175

Resistance level	Support level
16310	16110
16380	15975
16515	15905

US Crude Oil (USOUSD)

Oil prices ended the trading session on Monday, December 11, on the rise, as attention continues to focus on interest rate decisions announced by central banks this week, especially the decision from the U.S. Federal Reserve.

Futures for U.S. crude oil rose by nine cents (0.13%) to settle at $71.32 per barrel, despite concerns related to “supply surplus,” despite recent cuts approved by OPEC+. Similarly, Brent crude futures recorded an increase of 19 cents or 0.25%, settling at $76.03 per barrel.

Pivot point: 71.15

Resistance level	Support level
71.95	70.55
72.60	69.70
73.45	69.10

Risk Warning

This article provides real-time market analysis from contributing analysts. Please note that any views expressed in this article do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this article.