Nasdaq set to play catch up?
US stocks mostly closed higher overnight, buoyed by a mix of economic data (retail sales and jobless claims) that would melt the heart of even the most hardened economic critique, sending the Dow Jones to a new record high.
Drilling down, the Nasdaq100 remains the laggard of the key three key indices. However, provided it remains above short-term support at 20,000 and a more important layer of support at 19,600/500, we look for a test and break of the mid-July 20,690 high before a push towards 21,500.
Looking ahead, tech titan Tesla is set to report earnings next week along with Lockheed Martin, Coca-Cola, Boeing and American Airlines. You can read our preview of American Airlines ig.com/au/news-and-trade-ideas/american-airlines-q3-2024-earnings-preview--anticipated-share-pr-241010
The rates market is pricing in a 90% chance of a 25bp Fed rate cut for November and has a cumulative 42bp or rate cuts priced for year-end.
Drilling down, the Nasdaq100 remains the laggard of the key three key indices. However, provided it remains above short-term support at 20,000 and a more important layer of support at 19,600/500, we look for a test and break of the mid-July 20,690 high before a push towards 21,500.
Looking ahead, tech titan Tesla is set to report earnings next week along with Lockheed Martin, Coca-Cola, Boeing and American Airlines. You can read our preview of American Airlines ig.com/au/news-and-trade-ideas/american-airlines-q3-2024-earnings-preview--anticipated-share-pr-241010
The rates market is pricing in a 90% chance of a 25bp Fed rate cut for November and has a cumulative 42bp or rate cuts priced for year-end.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.