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Dow Jones Struggles Below Resistance; Breakdown Likely if 45,832 Support Fails

DOW JONES was down on Monday morning after testing the high level of 46143 in the last weekly trading session as investors awaited this week’s pivotal Federal Reserve meeting. Markets are pricing in about a 96% chance of a 25 basis point rate cut on Wednesday and roughly a 4% likelihood of a larger half-point move. The expectations follow recent US data showing a cooling labor market and subdued inflation.