US stocks are set to rise higher today on optimism over the new administration in the White House. Hopes are high that President Biden will bring more support to the struggling US economy, keeping stock markets supported. The Dow Jones industrial average surged to record highs, powered by gains in technology, communications, health care and most other sectors. Despite concerns that some stocks are starting to look overvalued, the historically low interest rates along with new stimulus and the continued rollout of vaccines, will likely help bolster markets and the recovery. From a technical perspective, failure of the Dow index to breakout by closing above 31300 will trigger a slight correction ahead of initial jobless claims due later today.
Support: 31225 / 31050 / 31000
Resistance: 31300/ 31500
Risk Warning: 79% of retail CFD accounts lose money
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