- The Nasdaq 100 is trading marginally lower, losing 0.12% on the day.
- Tesla registered a fall of 3.48%, in line with GlobalFoundries, which fell by 3.27% daily.
- Investors will be looking to Alibaba’s financial report tomorrow.
The Nasdaq 100 hit a daily low at 18,832 attracting buyers that pushed the index to a one-day high of 19,103. At the time of writing, the Nasdaq 100 is trading at 18,982, losing 0.12% on the day.
Tesla and GlobalFoundries drag the Nasdaq 100 into negative territory
Electric car manufacturer Tesla is down 3.48% today, dropping $7.25 to $200.66. The company has recently gained popularity for its Full Self-Driving Version 12 technology, however, it has not yet achieved the goal of complete autonomous driving, as it has difficulties in basic driving scenarios.
Integrated circuit manufacturing company GlobalFoundries has a 3.27% loss in its stock price, currently trading at $43.40.
Investors will be watching Alibaba’s second-quarter results, which are expected to report revenue of $248.3 billion and earnings per share of $15.
Technical levels on the Nasdaq 100
The Nasdaq 100 respected support at 17,272, the low from August 5. We see that the nearest resistance is at 19,536, the pivot point from August 1. The next key resistance is at 19,908, 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.
