Wall Street indices rebound amid improving sentiment in Mag7 stocks and tech-heavy sectors: semiconductors and software. Despite a much weaker than expected University of Michigan report, signalling rising inflation expectations and falling consumer expectations, bulls continue to buy US stocks. Nvidia surges almost 5%, driving AI stocks such as AppLovin (APP.US) and Palantir (PLTR.US) higher. As we can see below, US100 attempts to break above the falling price channel, with the important supply zone at 19640 points. The rise above 19700 points may open the way toward 20000 points retest attempt.
Source: xStation5
Today not only technology but also US financial sector; especially banks is strong. Shares of J.P. Morgan gains more than 3%; Wells Fargo and Bank of America shares also gain. It's also important to point out that US tech sector rebounds from oversold levels.
Source: xStation5
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