NASDAQ
Nasdaq is trading above the $28,200 support level, with prices likely to break below it and target $27,800. This scenario would be invalidated if prices break above the $29,900 resistance level during today’s trading session.
|
Support |
28200 | 27800 |
| Resistance | 29900 |
30750 |
Nasdaq faced strong selling pressure as technology and semiconductor stocks declined amid ongoing concerns over massive artificial intelligence spending and whether major companies can generate returns sufficient to justify these investments. Recent losses followed disappointing earnings results and financial outlooks from several technology companies, prompting investors to reduce their exposure to growth stocks and shift toward more defensive sectors, particularly after the index’s weak performance in October.
Markets are now awaiting earnings reports from Apple, Palantir, and AMD, which are expected to provide important insights into the technology sector’s performance and spending on AI infrastructure. The US midterm elections and upcoming employment data are also additional factors that could influence risk appetite. Nasdaq’s performance will largely depend on major technology companies’ ability to demonstrate the value of their investments and deliver actual earnings growth, particularly as investors become increasingly sensitive to elevated valuations and financing costs.
You can now benefit from LDN company’s services through the LDN Global Markets trading platform.
