Stock Markets update – Dow Jones at 50,000 & S&P 500 trades above 7,500 – Intraday Levels

• US Stock Benchmarks explode to new highs in today's session
• Nasdaq and S&P 500 print fresh new records, while the Dow Jones gets back above 50,000
• Exploring Technical Levels for the Dow Jones, Nasdaq and S&P 500

US stock indexes are reaching new all-time highs today, fueled by strong global risk appetite. The S&P 500 has moved past the 7,500 level, while the Nasdaq is also setting new records. The Dow Jones Industrial Average has climbed back above 50,000.

The Chairman Warsh trade is leading market activity. Investors see his confirmation as Federal Reserve Chair as positive for stocks. Large investors are moving money into growth and risk-oriented assets, while other asset classes are seeing less demand.

Precious metals, which recently benefited from safe-haven buying, are now giving back some of their gains as market fears ease. This rise in stocks is global, with international indexes also rising, signalling broad risk appetite.

The ongoing diplomatic summit between President Trump and China's Xi Jinping is also supporting the rally. Investors are encouraged by the positive tone from Beijing. This important meeting is improving investor sentiment and offers hope that the global economy will move away from the deglobalization trends seen in 2025.

While markets are rallying, the Federal Reserve is also seeing major changes. Kevin Warsh has joined the Fed board as its new leader, and Miran is stepping down.

Since there has been no official statement about Jerome Powell leaving, Wall Street assumes he will stay on the Board of Governors for now.

To get ready for a potentially volatile weekend, dive into intraday charts and trading levels for the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500.

Discover:

• Trump-Xi summit 2026: Key expectations and what markets are watching
• Kevin Warsh gets confirmed for Fed Chairman – Reactions for Dow Jones, Nasdaq & S&P 500
• Inflation is buoyant and Trump lands in China – North American Mid-Week Market Update

Nvidia continues to lead the push in Semiconductors, with the sector pulling the rest of the Market higher.

The Dow Jones broke its 49,500 to 50,000 range to the upside, looking to close above the key level for the first time since February 11.

Expect to see a continued push towards the end of the week, with the prior all-time highs being the next target for the bulls (~50,500).

Dow Jones technical levels for trading:

Resistance Levels

• 50,200 morning highs
• ATH resistance 50,400 to 50,500
• All-Time Highs 50,544

Support Levels

• April 14 Gap Fill Pivot 49,500
• Major Pivot – 49,000 to 49,100 (short-term bearish below)
• Momentum Support 48,500
• Pivotal Support at 48,000 (mid-term bearish below)
• Mini Support 47,400 to 47,600

Nasdaq is now forming what seems to be the basis of a short-term top, with the 2H RSI now forming a bearish divergence, turning lower despite the daily record highs – Bears will want to see a push below 29,400 with confirmation below the 2H 50-period MA (29,250).

Nasdaq technical levels of interest:

Resistance Levels

• 29,500 - 29,600 current resistance
• Daily highs 29,620

Support Levels

• 2H 50-period MA (29,250) – (ST bearish below)
• 28,500 short-term pivot
• 28,000 Major psychological resistance now Pivot (and channel highs)
• 27,500 micro-support
• Momentum Pivot at 27,000 (4H 50-period MA)
• Mini-support 26,600 to 26,750
• Prior ATH Support 26,200 to 26,300

As explored in our past day analysis of the Index, the S&P 500 showed high potential for a channel breakout and did so in this morning, reaching a 7,526 new record!

Despite the overbought momentum, the Index still looks strong enough to pursue its run higher – Nevertheless, keep an eye on if the Nasdaq ends up correcting as it may drag down sentiment with it.

S&P 500 technical levels of interest:

Resistance Levels

• 7,525 Daily ATH Resistance
• Next Stop 7,600

Support Levels

• Momentum Pivot 7,250 to 7,260
• Channel lows 7,230 (bearish below)
• 7,100 psychological level
• Prior ATH Pivot 7,000 to 7,020
• Minor Support 6,880 to 6,900
• Pivotal Support 6,750 to 6,770
• 6,300 psychological level (War lows)

Keep track of WTI Crude and the Trump-Xi meeting throughout the end of the week to stay ahead of the game.

Safe Trades!

Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier