🗽Nasdaq extends gains above 14,500 pt level with AI euphoria onboard 📈
- The Nasdaq 100 (US100) index is gaining more than 1%
- Financial markets overseas are pricing in positive news on weekend progress on debt limit extension
- Higher probability of another Fed rate hike does not discourage stock market bulls
- Shares of companies benefiting from the AI trend are still on an upward wave creating the possibility of a 6th consecutive upward session on the Nasdaq 100
The market expects that in view of the preliminary agreement between Biden and McCarthy, Congress will finally vote to raise the debt ceiling as early as Wednesday. The departure of one of the more important short-term risk factors has unleashed bullish potential and investors continue to buy shares of technology giants. Shares of Apple (AAPL.US), Meta Platforms (META.US) and Alphabet (GOOGL.US) are opening higher. In addition to BigTech, other companies related to the AI trend are also gaining. First and foremost are chipmakers, including the 5th largest US company by capitalization, Nvidia (NVDA.US). Its shares are gaining nearly 5%. Also AMD (AMD.US) and Intel (INTC.US) shares opened session higher. C3.ai (AI.US) shares are gaining nearly 17%, the direct AI company will report financial results tomorrow, after the session. Markets are clearly hoping that, like Nvidia, it will highlight the higher demand for artificial intelligence solutions. 
Chart of US100, D1 interval. The index has broken through the 23.6 Fibonacci retracement of the March 2020 upward wave and continues to climb towards 15,000 points. Source: xStation5
