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Nasdaq 100 sets new all-time highs driven by Moderna, Netflix, NVIDIA and AMD

  • The Nasdaq 100 recorded a new all-time high of 18,707 in the American session.
  • Investors will be watching NVIDIA's earnings reports and FED minutes, both of which will be released on Wednesday, May 22.

The index began the American session by setting a low at 18,552 and bouncing to reach a new high at 18,707. Currently the Nasdaq 100 is trading above 18,680 points, gaining 0.70% on the day. Among the most important companies that lead the rise of the index, Moderna stands out, which is trading at $141.33, gaining 6.25% daily, Netflix, gaining 2.96% at $639.51, and NVIDIA, which registers a gain of 2.56% at $948.11.

This week's focus will be on NVIDIA earnings report and FED minutes

Wednesday, May 22 will be key for the Nasdaq 100, as NVIDIA will release its earnings report. The consensus expects $24.53B in revenue. NVIDIA has exceeded analyst expectations over the past five quarters. Likewise, the Federal Reserve will release its minutes at the close of the American session on Wednesday, expected to offer clues about the path to follow in its monetary policy.

Technical levels on the Nasdaq 100

The first support in the short term is at 18,650, given by the pivot points of May 16 and the 23.6% Fibonacci retracement. The second support is at 18,460, the low of May 17. The closest resistance is located at 18,707, the all-time high.

One hour chart on the Nasdaq 100

Source: Fx Street

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