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Nasdaq 100 Forecast: QQQ steadies after jobless claims, Fed speak
US stocks pause for breath after yesterday's rally following cooler CPI data. While the data boosted rate cut optimism, NY Fed President Williams warned that more evidence of inflation cooling was needed in order to cut rates. Separately, Walmart is set to open sharply higher after beating earnings and revenue forecasts.
Bitcoin bounces in style as Wall Street hits new highs
On Tuesday I outlined a bullish case for bitcoin futures whilst prices remained above $60k. One soft US CPI and retail sales report later, bullish range expansion has most certainly kicked in.
Nasdaq 100 Forecast :QQQ rises towards record highs after CPI cools
US stocks are rising, heading back towards record higher after US CPI data cooled for the first time in six months in April. US CPI rose 0.3% MoM in April, below the 0.4% rise forecast. US retail sales were also weaker than expected at 0%. The data sent treasury yields and the USD lower while boosting stocks. The meme-stock euphoria was also showing signs of cooling.
Nasdaq 100 analysis: Stocks rise as cooling US labour market boosts rate cut bets
Jobless claims rose more than expected, providing fresh evidence of a cooling US labour market and helping to support the view that the Federal Reserve is going to cut rates by around September. Nasdaq 100 technical analysis remains positive for now.
Nasdaq 100 Forecast: QQQ rises post-Fed, Apple reports after the close
US stocks are set to open higher as the market digests the latest Federal Reserve meeting and looks ahead to tomorrow's non-far payroll report. The Fed left rates on hold and calmed worries of a rate hike. However, Fed chair Powell also warned that rates would stay high for longer. Apple is due to report after the close amid concerns over iPhone sales and China.
Gold forecast: Upside potential in focus as USD mulls a pullback
The break above $2300 for gold was accompanied by strong volumes, and with the US dollar mulling a pullback it could benefit gold further over the near term.
Nasdaq 100 Forecast: QQQ falls despite AMZN earnings & ahead of the Fed
US stocks are pointing to a lower start in cautious trade ahead of the Federal Reserve interest rate decision. The Fed is expected to leave rates unchanged as inflation rose across the first quarter and as the jobs market remains resilient. ADP payrolls were stronger than expected. Fed jitters are overshadowing results from Amazon, which beat forecasts.
Nasdaq 100 forecast: The ‘downside’ to selling in May and going away
The Nasdaq 100 is poised to snap a 5-month winning streak by Tuesday's close, which begs the question as to if the old adage 'sell in May and go away' arrived a month early.
S&P 500, Nasdaq, Dow Jones Forecast for the Week Ahead: Into the FOMC
It was a come back type of week for stocks, even with another hot inflation report. But next week brings the Fed and markets are still holding on to hopes for 2024 rate cuts.
Nasdaq 100 analysis: Markets remain vulnerable despite tech rally
Tech earnings optimism underpins recovery for now, but markets still remain vulnerable. US bond yields remain elevated ahead of a record $70 billion sale. Nasdaq 100 technical analysis shows index is testing key resistance.
Nasdaq 100 Forecast: QQQ rises as chip stocks rebound, Netflix earnings in focus
US stocks are inching higher after recent losses as chip stocks rebound following impressive earnings from TSMC and despite jobless claims coming in stronger than expected. TSMC is considered a bellwether for chip stocks, so the upbeat earnings have helped the sector, which had fallen in recent weeks. Attention is now turning to Netflix earnings after the closing bell.
Nasdaq 100 Forecast: QQQ inches higher ahead of Fed speakers
US stocks are inching higher with corporate updates in focus, and after US Fed Chair Powell dampened rate cut expectations. More Fed officials will speak today, and more hawkish commentary could impact sentiment. The market is currently pricing in a 40% probability of a July rate cut. United Airlines flies higher after encouraging results.
Nasdaq 100, S&P 500 and DAX analysis: Technical Tuesday - April 16, 2024
The S&P 500 extends losses to third week amid raised geopolitical risks and rising bond yields. Concerns over the escalation of the situation in the Middle East is at the forefront of investors’ minds. The situation remains volatile with Israel seeking revenge for Iran’s retaliatory attacks on Saturday.
Dow Jones, Nasdaq forecast: Key levels for US indices
The recent underperformance of the Dow Jones has not come without warning, as asset managers have been reducing their net-long exposure for several weeks now. Yet the Nasdaq remains above 18k, which means it may be better suited for bulls should sentiment improve and leave the Dow Jones for bears to consider fading into, should prices rebound.
Nasdaq’s bullish signal may deliver upside for the Nikkei 225
While the Nasdaq 100 has broken its 2024 uptrend, traders continue to buy the dip, generating a bullish signal on Thursday. That points to possible upside not only for US tech but also Japan’s Nikkei 225.
Nasdaq 100 Forecast: QQQ muted as bond yields rise
US stocks are pointing to a quiet start after losses last week and as US treasury yields rise. Strong US jobs data and manufacturing reports from last week have seen the market rein in Fed rate cut expectations. The market is now pricing in just a 49% probability of rate cut in June, down from 58% a week ago. There is no major data release today. Looking ahead of CPI and the FOMC minutes will be in focus.
Nasdaq Forecast: QQQ rises despite the strong NFP report
US stocks are set to open higher despite rising treasury yields after a stronger-than-expected NFP report. 303K jobs were added in March, smashing forecasts of 200k and raising questions over whether the Fed will be able to cut interest rates three times this year. The market is now fully pricing in the first rate cut in September rather than July. Oil is set to rise 4% across the week amid rising geopolitical tensions in the Middle East.
Nasdaq Forecast: QQQ stocks fall after stronger ADP payrolls & ahead of Powell's speech
US d=stocks point to a softer open after data highlights the resilience of the US economy. ADP payrolls rose 180k, up from 140k and ahead of forecasts. The data came after factory orders and JOLTS job openings, which were also stronger than anticipated. The persistent strength of the economy raises questions over whether the Fed can cut rares three times this year. Fed Chair Jerome Powell will speak shortly.
Nasdaq Forecast: QQQ rises, boosted by chipmakers
US stocks are set to open higher, boosted by chipmakers, and as investors weigh up diverging Fed views over the scale of rate cuts this year. While Raphael Bostic sees just one rate cut this year, Austan Goolsbee sees three rate cuts in 2024, The spotlight will be on US core PCE data on Friday, which could provide more clues over the Fed's future path for rate cuts. Today, US durable goods orders rose more than expected.
Nasdaq 100, ASX 200 weekly forecast: Record highs right there but will traders boost bullish bets?
Two very different indices, two similar trading setups. Will traders be willing to continue chasing record highs next week? The unconvincing price action to end the week warns of downside risks.
Nasdaq 100 Forecast: QQQ rises on Google, Apple AI chatter
US stocks are pointing to a stronger open, with tech stocks outperforming. Reports that Alphabet's Google and Apple are in talks to include Google's AI Gemini feature in iPhones has boosted the mood. Nvidia's annual developers conference will also kick off today. While tech news is lifting the mood, attention is also on the Federal Reserve interest rate decision on Wednesday, where the Fed could adopt a more hawkish stance given the sticky nature of inflation.
GBP/USD hints at sentiment extreme ahead of BOE, FOMC: COT report
With a BOE and FOMC meeting pending and net-long exposure for GBP/USD at or near a sentiment extreme, I cannot help but wonder if the pound it due at least a pullback. I also take a closer look at the US dollar index (DXY), gold and the Nasdaq 100.
NASDAQ 100 Forecast: QQQ muted ahead of more data tomorrow
US stocks point to a muted start after yesterday's rally. Investors have shrugged off hotter-than-forecast inflation and remain firm that the Fed will cut rates in the June meeting. US economic data is in short supply today. Attention will be on retail sales and producer prices later in the week. Oil prices pop on an upbeat demand outlook from OPEC.