- The Nasdaq 100 is up 540 points, with a capital gain of 2.91%.
- NVIDIA (NVDA) soars 11.05%, in line with Constellation Energy (CEG) which appreciates 10.45%, on the day.
- Traders will be keeping an eye on Meta Platforms (META) earnings report after market close.
The Nasdaq 100 hit a daily low of 18,972 during the European session, finding aggressive buyers who pushed the tech-heavy index to a daily high during the American session of 19,348. The Nasdaq 100 is currently trading at 19,290, gaining 2.60% on today’s trading.
NVIDIA and Constellation Energy lead Nasdaq 100 gains
Leading semiconductor company NVIDIA is up 11.05% at $115.17, in line with Constellation Energy, which is up 10.45% at $187.10.
On the other hand, AMD released its quarterly report, reporting revenues of $5.84B compared to $5.72B. It also recorded earnings per share of $0.69, compared to the $0.68 expected by analysts. These results have brought the stock to $146.53, appreciating 5.85% on the day.
Investors will be looking to Meta Platforms’ earnings report at the close of trading. The consensus among analysts is for revenue of $38.26B and earnings per share of $4.7.
Technical levels on the Nasdaq 100
The Nasdaq 100 has established short-term support at 18,664, the low of July 30. The next support is at 18,190, given by the pivot point of May 31. The closest resistance is at 19,971, the high of July 18, in confluence with the 78.6% Fibonacci retracement.
Nasdaq 100 daily 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.
