NASDAQ-100 ($NDX) Index Forecast: Down 2.3% Today

What is NASDAQ-100?

The NDX index represents the Nasdaq 100, which includes 100 of the largest non-financial companies listed on the Nasdaq stock exchange. The Nasdaq 100 is heavily weighted towards technology stocks, making it a key indicator for the tech sector's performance.

Why is NASDAQ-100 going down?

NDX index is down 2.3% on Sep 3, 2024 14:46

• The bearish movement in the NDX index today can be attributed to the uncertainty surrounding the inflation data and the potential rate cut by the Federal Reserve.
• Despite the positive sentiment in the market and the relief rally anticipated after Nvidia's earnings, the market seems to be cautious due to the upcoming inflation readout.
• The tech sector's performance, especially that of Nvidia, could have influenced the bearish movement in the NDX index, as investors may be waiting for more clarity on the inflation and rate cut scenarios before committing to tech stocks.
• Market volatility and mixed signals from various economic indicators are likely keeping investors on edge, leading to the bearish movement in the NDX index despite the positive start in the futures market.

NDX Price Chart

NDX Technical Analysis

NDX News

Wall Street Poised For Strong Start As Inflation Data Looms: Strategist Says Brace For Volatile Fall As Soft Landing Not Guaranteed Outcome

After Thursday’s mixed close, stocks appear to be headed for a positive start, although Monday’s Labor Day holiday will likely keep volume anemic. The index futures were solidly higher early Friday and sustenance of the sentiment hinges largely on an inflation readout due ahead of the market open. The futures market has priced in a 100% probability of a rate cut and the only uncertainty there is the magnitude of the reduction. If Friday’s inflation does nothing to force a reassessment, the market could launch into a strong rally. A rebound by tech stocks could also provide a thrust to the market. Futures Performance (+/-) Nasdaq 100 +0.68% S&P 500 +0.39% Dow +0.17% R2K +0.34% In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE: SPY ) rose 0.46% to $560.91, and the Invesco QQQ ETF (NASDAQ: QQQ ) jumped 0.72% to $474.03, according to Benzinga Pro data . Cues From Last Session Wall Street showed resilience on Thursday as the market weathered the negative reaction to artificial intelligence stalwart Nvidia Corp.’s (NASDAQ: NVDA ) earnings.

https://www.benzinga.com/news/earnings/24/08/40648231/wall-street-poised-for-strong-start-as-inflation-data-looms-strategist-says-brace-for-volatile-fall

Wall Street On Track For Relief Rally With Nvidia Earnings In Rearview Mirror: Strategist Says Near-Term Market Trajectory May Not Hinge On Presidential Election But This

After dilly-dallying in recent sessions amid anticipation ahead of Nvidia Corp.’s (NASDAQ: NVDA ) earnings, market mood is settling in. The index futures were higher in early trading. Nvidia shares have clawed part of their losses seen early in the premarket session and could recover when sell-side analysis starts coming in. Some strong tech earnings could provide the offsetting impact. The preliminary GDP data due ahead of the market will be parsed by traders for cues on growth and inflation. A speech by a Federal Reserve official is also on traders’ radar. More importantly, Friday’s consumer price expenditure index data called the Fed’s favorite inflation gauge, could keep the market on tenterhook. The Labor Day holiday on Monday could dampen trading volume, and this could impart volatility, although traders do not attach much significance to low-volume moves. Futures Performance (+/-) Nasdaq 100 +0.28% S&P 500 +0.23% Dow +0.52% R2K +0.53% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE: SPY ) rose 0.20% to $559.41, and the Invesco QQQ ETF (NASDAQ: QQQ ) gained 0.25% to $472.53, according to Benzinga Pro data .

https://www.benzinga.com/news/earnings/24/08/40621553/wall-street-on-track-for-relief-rally-with-nvidia-earnings-in-rearview-mirror-strategist-says-near-

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NASDAQ-100 Price History

26.07.2024 - NDX Index was down 1.5%

• The bearish movement in the NDX today is linked to optimistic market sentiment, influenced by expectations of positive Nvidia earnings and potential rate cuts.
• Traders seemed cautious before important economic data releases and speeches by Federal Reserve officials, leading to profit-taking within the NDX.
• Despite the positive outlook for tech stocks such as Nvidia, the NDX displayed a bearish trend, possibly indicating a temporary setback following recent gains.
• The market dynamics in the NDX today might be due to investors adjusting their positions in view of upcoming events like the Jackson Hole Symposium and Nvidia's earnings release.

22.07.2024 - NDX Index was down 0.7%

• The bearish movement in the NDX today could be attributed to:
• The overall market sentiment being cautious as traders await the Jackson Hole Symposium and Federal Reserve Chairman Jerome Powell's address, leading to profit-taking and a pullback in the Nasdaq 100 Index.
• The anticipation of Nvidia, Inc.'s upcoming earnings report next week, with traders closely monitoring the tech sector for any potential impact on market direction.
• The Power Inflow Signal on QQQ, a key component of the NDX, indicating a shift from net selling to net buying, suggesting short-term optimism and a potential uptrend in the stock, which might have influenced trading decisions in the index.
• The market dynamics influenced by factors such as earnings reports, Federal Reserve actions, and overall investor sentiment, contributing to the bearish movement in the NDX today.

29.07.2024 - NDX Index was up 0.6%

• The bullish movement in the NDX index today can be attributed to the positive sentiment driven by Nvidia's earnings and expectations of rate cuts.
• Traders are optimistic about a relief rally, with hopes of strong tech earnings offsetting any concerns.
• The market seems to be reacting positively to the anticipation of a soft landing in economic data and potential dovish comments from Federal Reserve officials.
• The overall momentum in the market is supported by expectations of a forthcoming rate cut and the belief that tech stocks, like Nvidia, are in a good position.

03.08.2024 - NDX Index was down 2.3%

• The bearish movement in the NDX index today can be attributed to the uncertainty surrounding the inflation data and the potential rate cut by the Federal Reserve.
• Despite the positive sentiment in the market and the relief rally anticipated after Nvidia's earnings, the market seems to be cautious due to the upcoming inflation readout.
• The tech sector's performance, especially that of Nvidia, could have influenced the bearish movement in the NDX index, as investors may be waiting for more clarity on the inflation and rate cut scenarios before committing to tech stocks.
• Market volatility and mixed signals from various economic indicators are likely keeping investors on edge, leading to the bearish movement in the NDX index despite the positive start in the futures market.

12.05.2024 - NDX Index was up 1.9%

• The bullish movement in the NDX index today can be attributed to the overall positive sentiment in the market, driven by the following factors:
• The rise in share prices of technology stocks has contributed to investor optimism and likely boosted the performance of the NDX index.
• Supportive economic data hinting at potential Federal Reserve policy easing may have also played a role in boosting investor confidence in the tech sector.
• The focus on must-own stocks and retirement ETFs suggests a growing interest in long-term investment strategies, which could have positively influenced the NDX index's performance today.

28.05.2024 - NDX Index was up 1.0%

• The Nasdaq Futures slipping due to an individual stock's sell-off could have put some pressure on the NDX index initially.
• The S&P 500 Futures holding up indicates a more resilient broader market sentiment, which eventually led to the strong bullish movement in the NDX.
• Comments by analysts about valuations potentially causing volatility and a tech rally normalization might have influenced market movements but did not prevent the NDX from rising.
• Despite mixed global cues, the NDX index experienced a strong bullish movement, supported by the resilience of the broader market following the initial slip in Nasdaq Futures.

25.06.2024 - NDX Index was down 2.7%

• The Nasdaq 100 experienced a strong bearish movement, dropping 3.6% in its worst session since late 2022, falling below its key 50-day moving average.
• Technology stocks, particularly AI-focused companies like Alphabet Inc. and Tesla Inc., faced significant declines due to concerns over higher AI spending and disappointing revenue.
• Investor sentiment was further dampened by lackluster earnings reports from Tesla and Alphabet, with worries about Alphabet's increased capital expenditures impacting market confidence in the AI sector.
• The overall market mood was cautious as traders awaited more clarity on earnings and key economic data, with uncertainties surrounding geopolitics, monetary policy, and the health of the reporting season contributing to the bearish movement in the Nasdaq 100.

30.06.2024 - NDX Index was down 1.0%

• The bearish movement in the Nasdaq 100 index today can be attributed to the overall negative sentiment in the tech sector, particularly due to disappointing earnings reports from key companies.
• Earnings reports from Microsoft, AMD, Nvidia, and other tech giants have influenced market sentiment, with mixed reactions leading to uncertainty among traders.
• Concerns about inflation data and the Federal Reserve's upcoming rate-setting meeting have added to the cautious outlook, impacting investor confidence in the tech-heavy Nasdaq index.
• The recent underperformance of tech stocks, including Alphabet and Tesla, has raised questions about the sustainability of the AI tech bubble, contributing to the downward pressure on the Nasdaq 100 index.

01.07.2024 - NDX Index was down 0.2%

• The bearish movement in the NDX index today could be attributed to the overall tech sell-off and profit-taking in the market.
• The market had been experiencing a tech-led rebound earlier in the week, driven by positive earnings reports from companies like Meta Platforms, Inc. and Advanced Micro Devices, Inc.
• However, concerns about overleveraged tech/AI stocks and the potential impact of Federal Reserve decisions on interest rates may have led to a pullback in the Nasdaq 100.
• The rotation towards small-cap stocks, as investors anticipate cheaper borrowing costs with expected interest rate cuts, could also have contributed to the bearish movement in the NDX index.

05.07.2024 - NDX Index was down 4.4%

• The NDX saw a significant correction due to disappointing earnings results from key tech leaders like Amazon, a downside momentum in the semiconductor sector, and investor concerns about geopolitical developments affecting economic growth.
• Despite the overall bearish market movement, there are still Nasdaq stocks showing resilience and potential for further upside.
• The anticipation of a September rate cut by the Federal Reserve and positive reactions to Meta Platforms, Inc.'s earnings contributed to some optimism in the market, but the NDX was unable to sustain the bullish momentum seen in premarket trading.
• The tech sector's performance, particularly in companies like Amazon, Apple, and Intel, will be closely watched as investors navigate through the current market uncertainties.

05.07.2024 - NDX Index was down 2.3%

• The Nasdaq 100 (NDX) experienced a strong bearish movement with a significant decline of over 4%.
• The market sentiment was negative, with the CBOE Volatility Index (VIX) spiking over 100% and various asset classes plunging amid recession fears.
• Warren Buffett's Berkshire Hathaway trimming its equity portfolio, particularly selling nearly half of its Apple (AAPL) shares, may have contributed to fears among traders regarding the market outlook.
• Geopolitical developments, disappointing earnings results from key tech leaders like Amazon (AMZN), and concerns about economic growth also added to the bearish sentiment in the tech-heavy Nasdaq index.

02.07.2024 - NDX Index was down 5.3%

• Despite positive tech sector sentiment, the NDX faced significant bearish movement.
• Potential reasons for the decline include profit-taking, concerns regarding possible interest rate hikes, and performance issues in specific tech stocks within the index.
• Market participants are exercising caution ahead of upcoming earnings releases from key tech firms like Amazon, Apple, and Intel, impacting bearish sentiment in the NDX.