News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.02% Gold: -1.05% Silver: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ySjnrTUWnk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.54%, while traders in EUR/USD are at opposite extremes with 72.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tyXcZZL0qf
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.39% France 40: 0.32% FTSE 100: 0.26% US 500: 0.01% Wall Street: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ljSeRVDbh8
  • Gilead Sciences receives FDA approval for Remdesivir - BBG
  • $GILD | Gilead Sciences receives FDA approval for coronavirus treatment remdiesivir
  • https://t.co/WnuPTDjq0J
  • Can bulls continue to push? While the bullish theme in Gold remains on hold, buyers haven’t been so bashful around Bitcoin. Get your $btc technical analysis from @JStanleyFX here:https://t.co/yLoAnTe6Py https://t.co/HD2spNq4FC
  • Precious Metals Update: #Gold 1904.24 (-1.04%), #Aluminum 1843.50 (+0.49%), and #Copper 6991.50 (+1.34%) [delayed]
  • US Dollar volatility remains heightened in the midst of back-and-forth stimulus negotiations. Get your $USD market update from @RichDvorakFX here:https://t.co/CfpaGfgTrq https://t.co/YCU6VIjlwX
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.00% Gold: -1.08% Silver: -1.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/V3riWytkHs
Nasdaq 100 Price Outlook: Apple Event, Tech Probe to Sway Index

Nasdaq 100 Price Outlook: Apple Event, Tech Probe to Sway Index

2019-09-09 22:00:00
Peter Hanks, Analyst
Share:

Nasdaq 100 Price Forecast:

Nasdaq 100 Price Outlook: Apple Event, Tech Probe to Sway Index

A series of stock-specific developments could look to sway the Nasdaq’s direction early this week as Google faces the scrutiny of regulators and Apple (AAPL) announces its newest product lineup. Together, the two tech-giants account for nearly 19% of the Index – affording them significant control over the Nasdaq and the QQQ ETF. Consequently, traders should look to the two behemoths for early insight into broader price action.

Nasdaq 100 Price Chart

Nasdaq 100 price chart

Regulatory Scrutiny

According to the Wall Street Journal, the bipartisan-probe into Google officially began on Monday as regulators look to crack down on practices that some believe to be monopolistic. The probe enjoys widespread support from both parties, suggesting it may stand the test of time even as members in Washington shift. Further, almost every state has representation from the attorney generals within the investigating group.

Although GOOG is the sole target at present, regulators have also considered investigations into Facebook (FB), Apple (AAPL) and Amazon (AMZN). If the investigation is expanded to include all four corporations, four of the five largest publicly traded companies would be under investigation. Collectively, over 42% of the Nasdaq 100 would be ensnared in regulatory scrutiny - which would create significant uncertainty for the Index’s largest components. For the time being, the investigation should have a limited impact on stock prices until concrete details are fleshed out and potential fines are outlined.

Apple Event

On the other hand, Apple’s product announcement on Tuesday may posses significantly greater potential to impact price in the short-term. In the past, product announcements have been accompanied by notable volatility in the stock price which has occasionally spread to suppliers. Consequently, Apple’s event on Tuesday could be the driving force behind sentiment and price action for the Nasdaq.

Apple event stock price

Source: TradingView, created by Peter Hanks

While Google and Apple weather their respective events, the outlook for the broader Index remains cautiously optimistic. A notable improvement in US-China trade relations has helped to buoy price in the near-term and Monday saw the release of robust consumer credit data. As a reflection of consumer appetite, the $7.3 billion beat - $23.29 billion versus $16 billion expected – suggests American consumers are not being dissuaded from spending their hard-earned capital which bodes well for retail sales data and corporate earnings moving forward.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Dow Jones, Nasdaq 100, DAX 30, FTSE 100 Forecasts for the Week

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES