NASDAQ
Nasdaq is trading in a medium-term uptrend, opening the way for further gains and the formation of new highs, while a break below the $30,250 support level could target $28,850 during today’s trading.
|
Support |
30250 | 28850 |
| Resistance | 31100 |
31500 |
Nasdaq rose in today’s trading, supported by clear strength in technology and artificial intelligence stocks after Micron’s earnings and outlook came in above market expectations, restoring momentum to the semiconductor sector and improving investor appetite for growth stocks. This performance came despite continued pressure from elevated U.S. Treasury yields, with the 10 year yield trading near its highest levels in years, a factor that typically weighs on the valuations of high growth technology companies.
Nasdaq’s performance in the coming sessions will depend on whether the technology sector can maintain this momentum, alongside the direction of bond yields, U.S. economic data, and comments from Federal Reserve officials. Continued strength in economic data or a further rise in yields could limit the index’s gains, while easing pressure in the bond market could allow positive momentum in technology stocks to continue.
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