Nasdaq Poised to Break Past 20,435.75 on Economic Data Hopes
The Nasdaq is approaching the 20,435.75 mark, driven by optimism around a potential Fed rate cut in September. Recent economic data, including softer PMI and factory orders, has fueled hopes of easing monetary policy. Despite a shortened trading session ahead of Independence Day, tech stocks are leading the charge. Anticipation of a rate cut has boosted market sentiment, encouraging investors to rally around high-momentum tech stocks. Keep an eye on this key level as the market continues to respond to economic indicators.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.