{"id":30202,"date":"2024-11-26T09:26:06","date_gmt":"2024-11-26T09:26:06","guid":{"rendered":"https:\/\/howtotrade.com\/?p=30202"},"modified":"2024-11-26T11:43:29","modified_gmt":"2024-11-26T11:43:29","slug":"nasdaq-grinds-higher-as-wall-street-cheers-treasury-news-nasdaq-analysis-prediction","status":"publish","type":"post","link":"https:\/\/howtotrade.com\/market-analysis\/indices\/nasdaq-100\/nasdaq-grinds-higher-as-wall-street-cheers-treasury-news-nasdaq-analysis-prediction\/","title":{"rendered":"NASDAQ Grinds Higher As Wall Street Cheers Treasury News &#8211; NASDAQ Analysis &amp; Prediction"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-key-points\">Key Points<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Stocks started the week on the front foot as Trump elected Scott Bessent for Treasury Secretary.&nbsp;<\/li>\n\n\n\n<li>Traders look ahead to a big day in the markets tomorrow, with Core PCE and GDP taking center stage.&nbsp;<\/li>\n\n\n\n<li>The NASDAQ is continuing to grind back to all-time highs. Will a lower volatility period help the stock market?<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-trump-elects-bessent\">Trump Elects Bessent<\/h2>\n\n\n\n<p>Markets prefer predictability and stability when it comes to economic policy. On Friday, President-elect Donald Trump nominated hedge fund manager Scott Bessent as the new Treasury secretary.<br><br>Previously, Bessent said he saw taxing US consumers via trade tariffs as a \u201cbargaining tool,\u201d and investors were pleased that there was a voice for tax moderation. Overall, this appointment is considered investor-friendly and will keep risk sentiment positive in the short term. This is good news for the NASDAQ bulls.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-attention-turns-to-inflation-amp-gdp\">Attention Turns To Inflation &amp; GDP<\/h2>\n\n\n\n<p>Wednesday will likely be a big day for forex traders, with the FOMC meeting minutes, Core PCE Price Index and Gross Domestic Product (GDP) figures set to cause a fresh wave of volatility in the stock market. The FOMC meeting minutes will likely confirm the less dovish view from the Federal Reserve, but traders will be keen to read any hints around a December cut.<br><br>Core PCE inflation and prelim GDP are expected to remain roughly the same as the previous figures, which will likely keep the positive sentiment in the NASDAQ. Any unwanted surprises, such as much higher inflation or much lower GDP, could derail this.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-nasdaq-continues-grind-higher-nasdaq-prediction\">NASDAQ Continues Grind Higher &#8211; NASDAQ Prediction<\/h2>\n\n\n\n<p>The bullish trend in the NASDAQ remains very strong, with the recent bull run seeing the price rise from 19886 to 21225 in just four trading days. This meant the NASDAQ printed record highs. In the previous <a href=\"https:\/\/howtotrade.com\/market-analysis\/indices\/nasdaq-100\/nasdaq-pauses-after-post-election-hype-us-inflation-ticks-higher-nasdaq-analysis-prediction\/\" target=\"_blank\" rel=\"noreferrer noopener sponsored nofollow\">article,<\/a> it was mentioned that the 61.8% daily Fibonacci retracement is a key support area, and you can see the price has now reacted from this area on four occasions.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"432\" src=\"https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-1024x432.png\" alt=\"\" class=\"wp-image-30201\" srcset=\"https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-1024x432.png 1024w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-300x127.png 300w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-768x324.png 768w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-1536x648.png 1536w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-540x228.png 540w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-860x363.png 860w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18-1170x493.png 1170w, https:\/\/howtotrade.com\/wp-content\/uploads\/2024\/11\/US100_2024-11-26_09-19-18.png 1800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">NASDAQ 4H Chart &#8211; 26\/11\/2024<\/figcaption><\/figure>\n<\/div>\n\n\n<p>There has also been a bullish crossover on the H4 chart between the EMA12 and EMA36, so traders may want to use this to continue this momentum. The next level to watch out for would be the all-time highs at 21,236.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Points Trump Elects Bessent Markets prefer predictability and stability when it comes to economic policy. On Friday, President-elect Donald Trump nominated hedge fund manager Scott Bessent as the new Treasury secretary. Previously, Bessent said he saw taxing US consumers via trade tariffs as a \u201cbargaining tool,\u201d and investors were pleased that there was a [&hellip;]<\/p>\n","protected":false},"author":144908,"featured_media":25031,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[592],"tags":[],"class_list":["post-30202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nasdaq-100"],"acf":{"related_posts":[30138,30091,29871],"reviewer":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NASDAQ Grinds Higher As Wall Street Cheers Treasury News<\/title>\n<meta name=\"description\" content=\"On Friday, President-elect Donald Trump nominated hedge fund manager Scott Bessent as the new Treasury secretary.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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