NASDAQ
Nasdaq Index declined during morning trading, with prices approaching the $29,500 support level, which is likely to limit the downside momentum during today’s trading session.
|
Support |
29500 | 28800 |
| Resistance | 30500 |
31300 |
Nasdaq Index continued its decline during today’s trading session, pressured by persistent selling in technology, semiconductor, and artificial intelligence-related stocks following the release of higher-than-expected U.S. inflation data for September, which strengthened expectations of further interest rate hikes by the Federal Reserve. The decline extended losses from Wednesday’s session, when the index fell by approximately 1.9%, amid growing investor concerns over the impact of higher borrowing costs on companies that rely on external financing to expand their investments in artificial intelligence infrastructure.
Markets are closely watching upcoming U.S. economic data and statements from Federal Reserve officials for further indications of the interest rate outlook, particularly as inflationary pressures persist and financing costs for technology companies remain elevated. Investors are also focusing on earnings reports from major corporations and their projections for artificial intelligence spending, as stronger-than-expected results could help ease selling pressure, while continued concerns over the future returns on these investments could keep Nasdaq under pressure in the coming trading sessions.
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