US Stock Market Ends Week on Mixed Note, Dollar Index Rises Again

The US stock market ended the week on a mixed note, with the Dow Jones Industrial Average declining for the fifth consecutive week. The index fell by 1.26% to close at 51,182.11. However, the S&P 500 and NASDAQ Composite indices managed to stay afloat, with the former down marginally by 0.26% and the latter closing higher by 0.45%.

The dollar index rose for the third consecutive week, increasing by 2.86% in the past three weeks. The US 10Yr Treasury Yield remained high but stable throughout the week, touching a high of 5.34% last week.

Analysts predict that the Dow Jones could fall to 49,700-49,500 in the coming weeks before potentially resuming an upward trend. For the S&P 500, supports are at 7,600 and 7,670, while resistance is in the 7,790-7,800 region.

The NASDAQ Composite index is expected to face resistance around 27,450, with a break above it potentially taking the index higher to 28,300-28,500. However, if the index fails to breach this level, it may drop to 26,900.