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Nasdaq analysis: Nvidia-fuelled tech rally pauses, but what now?

Nvidia topped $2 trillion valuation in first for chipmakers, but rally lost steam Friday. Magnificent 7 stocks’ charts point to caution as we look ahead to the new week. The Nasdaq chart point to bullish caution.

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February 24, 2024 09:00 PM
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Nasdaq 100 Forecast :QQQ hovers around record highs in a quiet start

After soaring in the previous session, US stocks are pointing to a quiet open. Stocks surged to record highs yesterday, inspired by AI chip designer Nvidia's results and outlook. Today the US economic calendar is quiet. Some attention could go to Fed governor Christopher Waller's comments after he pushed back on the need for immediate rate cuts. The USD is set to fall this week - the first weekly decline in 2024.

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February 23, 2024 08:52 AM
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Nasdaq 100 Forecast: QQQ slips ahead of FOMC minutes, Nvidia earnings

US stocks are heading for a weaker open as investors look cautiously ahead to the release of the minutes to the January FOMC meeting and to Nvidia earnings after the close. Investors will be looking to see whether the minutes push back on rate be expectations and whether Nvidia, the AI chipmaking giant can live up to the hype surrounding its stock and a future with AI.

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February 21, 2024 09:14 AM

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USD/JPY forecast: 151 seems plausible, 152 may be a stretch

USD/JPY is clinging to 150 despite the weaker US dollar on Tuesday, as there seems little reason for traders to bid the yen. And unless we receive a compelling reason to buy then yen via a surprisingly hawkish BOJ or broad risk-off environment, it becomes difficult to construct an overly bearish case for USD/JPY whilst the Fed remain quiet about rate cuts.

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USD/JPY forms bull flag above 150, Nasdaq ‘rebound’ tied to yields

The Nasdaq may have risen on Wednesday, but it appears driven by a pullback in yields. And if yields rally from a key level of support, it could propel USD/JPY higher and weigh on the Nasdaq.

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February 14, 2024 05:24 PM
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Nasdaq analysis: What now after CPI-related sell-off?

Nasdaq analysis: risk of correction is increasing day by day, but after the CPI-related dump, markets have bounced back. Nasdaq technical analysis shows bullish trend held but could it break soon?

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February 14, 2024 12:00 PM
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US dollar, Nasdaq, S&P 500, gold analysis: Forward testing US CPI

Attention shifts the today’s US CPI report, which is arguably the biggest event of the week. So we crunch some numbers on the US dollar, S&P 500, Nasdaq and gold to see how they have performed around it.

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Nasdaq 100 Forecast :QQQ rises after earnings from Meta, AMZN & a strong NFP report

US stocks point to a mixed open, and Nasdaq futures are off session highs after US non-farm payroll data smashed forecasts, with 353k jobs added in January above 180k forecasts. December's numbers were also revised higher to 333k. Meanwhile, upbeat results from Meta and Amazon. Apple is set to fall despite beating profit and revenue forecasts.

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February 2, 2024 09:10 AM
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Nasdaq 100 analysis: More volatility ahead with Apple, Amazon and Meta earnings on tap

Shares on Wall Street opened higher today, after index futures regained some ground lost during Wednesday’s sell-off that was triggered by a hawkish FOMC.

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February 1, 2024 11:30 AM
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Nasdaq 100 analysis: AI optimism takes a hit ahead of FOMC

US index futures traded mixed with the Dow futures rising alongside firmer European markets, while the technology-heavy Nasdaq futures underperformed following earnings from a few tech giants that failed to live up to high expectations, ahead of a busy next few days in the markets.

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January 31, 2024 06:30 AM
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Nasdaq 100 analysis: US futures rebound but will stocks take a breather after big rally?

Investors consider key risks facing stocks, with Core PCE inflation coming up, ahead of FOMC and NFP next week. European stocks surge on LVMH earnings beat. Meanwhile, Nasdaq 100 technical analysis shows some warnings signs for bulls.

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January 26, 2024 07:30 AM
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Nasdaq 100 Forecast: QQQ rises after Q4 GDP growth, Tesla falls

US stocks are heading for a higher start despite Tesla's disappointing outlook and after stronger-than-expected GDP data. US GDP rose 3.3% in Q4 annualized, ahead of the 2% forecast but down from 4.9% in Q3. Treasury yields declined after the data, lifting stocks and dragging on the USD. Earnings continued to roll in. Tesla points to an 8% fall after missing on both the top and bottom line and warning of slower growth in 2024.

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January 25, 2024 08:48 AM
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Nasdaq reaches new record high, a week ahead of FOMC: The Week Ahead

Love it or loathe it, the rally on US indices has been impressive. Traders seem to be focussed on lower yields, slightly reduced bets of multiple Fed cuts and any other morsel of what can be repackaged as ‘good news’. But can it withstand incoming GDP figures, a PCE inflation report and an FOMC meeting without a wobble?

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January 24, 2024 10:34 PM
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S&P 500, Nasdaq 100 and Dow Jones leave dubious candles at record highs

Whilst Wall Street indices notched up a fresh record high on Monday, price action across the major indices war of trend exhaustion.

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NASDAQ 100 Forecast: QQQ rises after solid data and on AI optimism

US stocks point to a broadly upbeat start, boosted by soft landing hopes and AI optimism after an encouraging outlook from TSM. Meanwhile, US jobless claims and housing data pointed to a resilient economy despite interest rates at a 22-year high. Looking ahead Atlanta Fed President Raphael Bostic is due to speak. Any comments regarding the outlook for interest rates could influence the market.

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January 18, 2024 09:10 AM
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Nasdaq analysis: Outperforming US stocks join global meltdown

In the wake of the dovish rate-cut euphoria that had propelled stocks to record highs at the close of the previous year, many investors are now left wondering whether they pushed stocks too high, too soon.

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January 17, 2024 12:30 PM
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Nasdaq100 Forecast: Stocks slip after a strong rally

US stocks are heading lower after a stellar session on Monday. The Nasdaq soared 2.4% boosted by AI optimism. Today, hawkish comments from Fed official Raphael Bostic are hurting the mood ahead of Thursday's inflation data which could provide further clues over the Fed's future path for interest rates.

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January 9, 2024 09:32 AM

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Nasdaq 100 Forecast: Stocks extend losses ahead of FOMC minutes

US stocks point to a weaker open, extending losses from the previous session, as investors reassess the likelihood of deep rate cuts from the Fed this year. Attention turns to ISM manufacturing PMI data, JOLTS job openings and the FOMC minutes to the December meeting for further clues on the Fed's path for monetary policy easing.

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January 3, 2024 09:17 AM
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Indices 2024 Technical Outlook Preview

The banking crisis that showed up in March served as a boost for the risk trade, and then Chair Powell’s appearance at November and December FOMC rate decisions helped to reinvigorate buyers in late-year price action

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January 1, 2024 04:06 PM
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Nasdaq 100 Forecast: Stocks extend gains ahead of PMI data

US stocks are pointing to a higher start, extending post-Fed gains ahead of PMI data shortly. After stronger-than-forecast retail sales yesterday and the Fed looking to cut rates 3 times next year, the market is increasingly hopeful that a soft landing will be achieved. Attention is on PMI data, which is expected to ease slightly in December. Oil is on track for its first weekly gain in two months.

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December 15, 2023 08:28 AM
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Dow theory put to the test as DJIA breakout leads S&P 500, Nasdaq 100

The Dow Jones (DJIA) closed to a record high after the latest FOMC meeting. Will this pave the way for the S&P 500 and Nasdaq 100 to follow suit?

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Nasdaq 100 Forecast: Stocks scale higher ahead of the FOMC rate decision

US stocks continue to scale higher for a fourth straight session ahead of the FOMC rate decision later. US PPI came in cooler than expected, which bodes well for consumer prices to continue falling. However, the Fed may push back on rate cut bets in light of the stronger jobs market and given that the market is pricing in around 100 basis points of cuts next year.

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December 13, 2023 09:16 AM
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S&P 500 forecast :SPX recovers from initial post NFP falls

US stocks recover from initial post-NFP losses. The closely watched US jobs report saw 199k jobs added in November, up from 150k. Meanwhile, unemployment fell to 3.7%, and wages grew at 0.4%, faster than expected. The data saw investors rein in Fed rate cut bets.

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December 8, 2023 09:57 AM