US Producer Prices and Earnings in Focus
US futures posted losses during the Asian session on January 30. The Dow Jones E-mini fell 259 points, while the Nasdaq 100 E-mini and the S&P 500 E-mini dropped 217 points and 40 points, respectively.
Later on Friday, US producer prices will influence sentiment toward the Fed’s policy outlook. Economists expect producer prices to rise 2.7% year-on-year in December, down from 3% in November. Lower producer prices would support a softer inflation outlook and signal a more dovish Fed rate path. Rising bets on an H1 2026 Fed rate cut would boost demand for risk assets.
Beyond the data, corporate earnings will also influence sentiment. Exxon Mobil (XOM), Chevron (CVX), American Express (AXP), and Verizon Communications (VZ) are big names scheduled to release earnings results.
Strong earnings and softer producer prices would support a rebound in US index futures, supporting the bullish medium-term outlook.
Key Technical Levels for Dow Jones, Nasdaq 100, and S&P 500
Despite the morning pullback, the Dow Jones E-mini, the Nasdaq 100 E-mini, and the S&P 500 E-mini remained above their 50-day and 200-day EMAs. The EMAs indicated a bullish bias, aligning with favorable fundamentals.
Near-term trends will hinge on geopolitical risks, earnings, US economic data, Fed rhetoric, and the BoJ’s rate path. Key levels to monitor include:
Dow Jones
- Resistance: 49,000, the January 13 record high of 49,901, and then 50,000.
- Support: the 50-day EMA (48,592).