14.08.202508:54 Forex Analysis & Reviews: Stock market on August 14: S&P 500 and Nasdaq hit new all-time highs

At the end of yesterday's session, US stock indices closed higher. The S&P 500 gained 0.32%, while the Nasdaq 100 rose by 0.14%. The Dow Jones Industrial Average added 1.04%.

Asian indices fell by 0.4%, weighed down by the risk of an interest rate hike by the Bank of Japan. S&P 500 futures slipped by 0.2% after the index closed at a record high on Wednesday. European stock indices also expect a weaker open.

Bitcoin reached an all-time high, while gold advanced. The dollar declined as Bessent also called on the Federal Reserve to ease policy. Bessent's remarks about the Bank of Japan and the need for it to raise interest rates represent a rare example of criticism directed at a foreign central bank's decisions. In an interview with Bloomberg on Wednesday, the US Treasury Secretary also stepped up external pressure on the Fed, making his most direct call yet for US policymakers to launch a cycle of interest rate cuts. Such unprecedented candor has sparked heated debate among experts, raising questions about central bank independence and the appropriateness of political interference in monetary policy.

The statement came amid slowing economic growth and mounting concerns about the resilience of the US labor market. The Treasury Secretary justified his stance by citing the need to stimulate economic activity and prevent a potential recession. In his view, lowering interest rates would reduce borrowing costs for businesses and consumers, thereby encouraging investment and spending. Bessent, suggesting that the Fed's benchmark rate should be at least 1.5 percentage points lower than its current level, said that officials might have cut rates had they known about the revised labor market data released a couple of days after the last meeting.

Last month, the Federal Reserve's Open Market Committee, led by Chair Jerome Powell, kept the target range at 4.25% to 4.5%. Today, the Producer Price Index report is due, which will provide additional insight into the categories directly included in the Fed's preferred Personal Consumption Expenditures index, scheduled for release later this month.

Meanwhile, US President Donald Trump, who has also criticized the Fed for its restrictive stance, said that he may reveal the name of the next central bank chair a little ahead of schedule, adding that he has three or four potential candidates left on his list.

Elsewhere, geopolitical tensions remained high after the US president warned that he would take very serious measures if Vladimir Putin did not agree to a ceasefire deal at tomorrow's meeting in Alaska.

As for the S&P 500 technical picture, the main task for buyers today will be to break above the nearest resistance level if $6,457. This would support further growth and open the way for a push toward $6,473. Equally important for bulls will be holding control over $6,490, which would strengthen their position. If the price moves lower amid a decline in risk appetite, buyers must step in around $6,441. A breakout below this level would quickly push the instrument back to $6,428 and open the way toward $6,414.