US100 gains 1.2% 📈

Futures on Nasdaq 100 (US100) are up nearly 1.2% as BigTech stocks recover losses following yesterday's sell-off. Nvidia is surging over 6%, while Meta, Taiwan Semiconductor, and Apple are gaining between 2.8% and 3.8%. As shown on the dashboard below, overall sentiment across the US stock market outside the technology sector is mixed after weaker-than-expected macroeconomic data released today.

• Durable goods orders in the US fell by -2.2% month-over-month in December 2024, with November’s data revised down from -1.2% to -2%. Similarly, the Conference Board Consumer Confidence Index for January disappointed, as investors had expected a reading around 106 but received a figure of 104.1, with a notable weakening in the assessment of current conditions. Despite this, the US dollar has strengthened significantly ahead of tomorrow’s Fed decision, scheduled for 7 PM GMT. Bitcoin is gaining slightly, once again reaching the $102,000 level.
• The CEO of Scale AI claims that DeepSeek held nearly 50,000 Nvidia H100 AI chips, but the company did not report this. According to a Wedbush note: "Bears missed the historic rally in tech stocks over the last 2 years and will miss the next 2 years, endlessly waiting for a black swan to end the AI Revolution trade. From Fed days to rumors of Nvidia Blackwell delays to Tokyo Black Monday… today is no different with DeepSeek… a buying opportunity." Today, OpenAI launched ChatGPT Gov in the US, tailored for US government agencies. On the other hand, it remains uncertain whether DeepSeek will negatively impact infrastructure providers’ backlogs and future revenues.

Source: xStation5

US100 is one step closer to testing the EMA200 on the hourly interval, recovering nearly 50% of yesterday's declines.

Source: xStation5