The Dow Jones Industrial Average continued its corrective rise in recent trading at intraday levels, ever so slightly. But late in the session on Monday, the Dow Jones Industrial Average closed very slightly lower, as it fell on Monday to post losses of 0.52%, or 164.31 points, to settle at the end of the session. at 31,173.85.
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Additionally, members of the Federal Reserve’s Monetary Policy Committee decided at its meeting last month that another 50 or 75 basis point hike was “probably appropriate” in July as it struggles to rein in the slowdown. ‘inflation.
The drop in US stock indexes coincides with the US dollar index making historic gains, with a significant 0.67% increase on Monday.
The losses came as a wave of correction after U.S. equity indices made gains early last week, after minutes from the Federal Reserve’s monetary policy meeting in June indicated the possibility of a raise. the interest rate again later this month, despite the risks of a downturn. Economic growth.
On the other hand, looking at the technical analysis of the Dow Jones Industrial Average, we see that it has come closer to the historical support point, which had reached its peak in January of the year 2020 at 29,504.85 points. , as it hit the lowest correction level for the Dow Jones index. During the month of June, it reached the level of 29706.45 points, where the best levels of the Dow Jones buy recommendations are at the support prices of 29504.85 points, in addition to the price level of 27495 .00 points.