Nasdaq extends trading euphoria. Technology and semiconductor companies drive the index 🔌
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BigTech stocks: Apple (AAPL.US), Alphabet (GOOGL.US), Microsoft (MSFT.US) and Amazon (AMZN.US) all rally today
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Shares of semiconductor manufacturers surge, with Nvidia (NVDA.US) gaining almost 3%, AMD (AMD.US) and Taiwan Semiconductors (TSM.US) stocks rallying
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Weakness in Canada's labor market has increased the chances of a pause in the Fed cycle
This week's final trading session on Wall Street began with strong rallies in Wall Street indices, which are benefiting from bullish sentiment around technology stocks and the dynamic rally of Tesla and Netlix. Moreover, technology companies are benefiting today from the overtones of a weak Canadian labor market report, which also reduces the chance of hawkish returns from the Fed. US 10-year bond yields are losing ground today, keeping up the upside fuel for Tech companies.
Tesla (TSLA.US) shares are mainly driven by the price competitiveness of its new car models and recent reports of a partnership with General Motors, whose cars will benefit from Tesla's Supercharger network. Netflix (NFLX.US) is also doing well, with sentiment supported by reports of an increase in subscriptions as a result of the company implementing measures to end password sharing.
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'Value' companies continue to show weakness against tech stocks. Very strong semiconductors show that euphoria around AI is not going away Source: xStation5
The US100 stock price is approaching an important barrier, located in the region of recent local peaks and the psychological barrier of 14,700 points. It is worth noting, however, that the RSI indicator is currently in the overbought zone, which may suggest that the recent rallies, due to their dynamics, may be difficult to repeat in the short term. However, if the bulls manage to sustain the upward movement, the next historical limits are located in the region of 14 800 and 15 000 points. Source: xStation 5
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