Officials also stressed that investors should not interpret the slower 50-basis-point rate cut as a shrewd retreat, warning markets against a rate cut this year. The Dow Jones Industrial Average moved up intraday in its recent trade, gaining 0. 0% in recent sessions to settle around 133. 0 points. After falling -0.03% in Tuesday’s trading session, it settled at 33,269.78 by the end of trading. Advertisement Want to test your skills? Open MT Free Demo Now! START The increase in stocks came minutes after the FOMC’s December meeting confirmed earlier signals to policymakers that interest rates are expected to continue rising this year and will remain stable at their high levels. Officials also stressed that investors should not interpret a slower rate of 50 basis points as a deadlock, warning the market against a rate cut this year. Meanwhile, PMI data showed that US manufacturing activity fell for a second month in a row, raising investor doubts that the central bank can support high borrowing costs without major losses. In the US to 8. , the lowest level since May 2020. Any number below 50% indicates a decline in activity. Stock watchers were hoping to see a slowdown in economic growth statistics, which could allow the US Federal Reserve to slow the pace of rates. The outlook for , US jobs fell slightly in November, confirming that the labor market remains strong, adding to fears that the US Federal Reserve may not be at the end of its monetary tightening cycle. Dow Jones Technical Analysis Technically, the index is trying to pick up its recovery due to its impact on breaking the bearish correction slope in the near term as shown in the chart below (daily). In addition to supporting trading above the previous 50-day simple moving average, it continues to show positive signals on relative strength indicators. This supports the hypothesis of an increase in the index in its future business. Therefore, we expect the index to rise soon if it remains stable above the support level of 32,582.00, targeting the 3 ,281.36 resistance level.