- The Nasdaq 100 index recorded its third consecutive session of gains and hit a new all-time high of 20,182.
- Tesla (TSLA) is up 6.54%, with NVIDIA (NVDA) gaining 4.57% today.
The Nasdaq 100 hit a daily low during the European session at 19,966 as buyers pushed the index to a new all-time high at 20,182. The Nasdaq 100 is currently trading at 20,166, gaining 0.78% on the day.
Nasdaq 100 hits new all-time highs buoyed by Tesla and NVIDIA
The Nasdaq 100 technology index has set new all-time highs at 20,182, boosted by Tesla shares trading at $246.39, gaining 6.53%. On the other hand, NVIDIA is trading at $128.28, with a capital gain of 4.57%.
Investors are interpreting recent economic data on employment and services as an increase in the likelihood of a near-term interest rate cut by the Federal Reserve.
Markets will be closed tomorrow due to the US Independence Day holiday, so trading volumes are expected to be low for the rest of the week.
Technical levels on the Nasdaq 100
The Nasdaq 100 established a first support at 19,966, today’s low. The next support is at 19,830, in confluence with the 50% Fibonacci retracement. The closest resistance is at 20,600, given by the 161.8% Fibonacci extension. The RSI is at 68.97, approaching overbought levels, where a pullback could be brewing.
Nasdaq 100 4-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
