Dow Jones Technical Analysis: Index Continues to Rise

The Dow Jones Industrial Average Index continued to rise during its recent trading at the intraday levels, to achieve gains for the third consecutive day, by 1.27%. It added about 424.38 points, and settled at the end of trading at the level of 33,761.06. This came after rising during Thursday’s trading by 0.08%. Last week, the index advanced by 2.92%.

Preliminary results for August showed that the University of Michigan Consumer Confidence Index rose to 55.1 from 51.5 in July, market expectations were for a rise to 52.5, and the survey showed that the expected inflation rate for next year fell to 5%, the lowest level since February February, as energy prices continued to fall.

Meanwhile, San Francisco Fed President Mary Daly said her main issue for the FOMC meeting in September was a 50 basis point increase in the federal funds rate and was open about a big raise.

Steve Walker

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