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Nasdaq 100 sets new all-time high buoyed by Tesla and Warner Bros Discovery

  • The Nasdaq 100 technology index hit a new record high at 20,542 following comments from Fed Chairman Jerome Powell.
  • Tesla (TSLA) is up 4.52%, while Warner Bros Discovery Inc (WBD) is up 2.25% on the day.

The Nasdaq 100 posted a daily high of 20,542 during the American session, finding sellers who took the index to a daily low of 20,392. At the close of the American session, the Nasdaq 100 was trading at 20,437, with no significant change from the previous session.

Nasdaq 100 hits new all-time highs buoyed by Tesla and Warner Bros Discovery

The Nasdaq 100 technology index set a new all-time high at 20,542, driven by Tesla shares trading at $264.60, up 4.47%. Similarly, Warner Bros Discovery is trading at $7.28, up 2.32% on the day.

Fed Chairman Jerome Powell told the US Senate that it was important to continue making decisions meeting after meeting, focusing on building confidence that inflation is moving steadily toward the 2% target.

Investors will be paying close attention tomorrow to Jerome Powell’s statements on his second day of testimony before the United States Senate.

Technical levels on the Nasdaq 100

We see the first support at the 9-period Moving Average located at 20,403. The second support is located at 20,000, a round number that converges with the 50% Fibonacci retracement. The closest resistance is at the all-time high set today at 20,542.

Nasdaq 100 4-hour chart

Source: Fx Street

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