Nasdaq: Between Volatility and Stability

NASDAQ

The Nasdaq Index is trading below the resistance level of $20,450, and prices are likely to move within a range between this resistance level and the support level of $19,980 in today’s trading.

Recently, the Nasdaq index has experienced fluctuating performance, driven primarily by the performance of major technology companies. As of mid-October 2024, the index rose by 22.44% year-to-date, reflecting sustained demand for tech stocks, despite expectations of a slowdown in interest rate hikes by the U.S. Federal Reserve, which spurred investors to enter the market aggressively. However, by the end of October, the index faced some pressure, dropping by 1.60% on October 23 due to widespread sell-offs in certain sectors, temporarily affecting overall performance.

Overall, optimism remains about the future of the index, especially with innovations in areas such as artificial intelligence and fintech driving growth. However, investors should closely monitor market volatility, particularly with factors like inflation and economic policies that could influence performance in the coming months.

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