NASDAQ
Nasdaq index is trading below the $29,600 resistance area, and a break above it could target the $30,000 area, but the above mentioned resistance is likely to limit the pace of gains in today’s trading.
|
Support |
28500 | 27600 |
| Resistance | 29600 |
30000 |
Nasdaq index rose during today’s trading, supported by renewed momentum in technology and semiconductor stocks after Nvidia’s strong earnings, which restored confidence in continued demand for artificial intelligence and data centers. This rise came after an earlier wave of pressure driven by higher bond yields and inflation concerns, but improved risk appetite helped the index recover part of its losses.
Despite the positive performance, the movement remains clearly tied to caution over the Federal Reserve’s hawkish tone and developments in the Iran war, along with their impact on oil prices and inflation. Therefore, Nasdaq needs continued liquidity inflows into major technology stocks for the current rise to shift from a short term rebound into a stronger upward wave.
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