New record for Nasdaq 100 as Nvidia rallies
|A news-light day has nonetheless seen the Nasdaq 100 hit a new record, while the FTSE 100 continues to consolidate around recent highs, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 struggles
“The triumphant advance of the FTSE 100 to its current record high has given way to dull, rangebound trading as upward momentum exhausts itself. Having gained over 8% in a month, the index now faces a tougher task, namely that of holding on to the ground won. Latecomers to the rally need to be wary; strong gains from February into April were followed up by a very choppy period, one that could easily recur.”
Nvidia boosts Nasdaq 100
“The last of the big-name earnings comes through this week, with Nvidia just a short hop away from the remarkable $1000 per share level. The past 20 years have seen the company’s stock pop into the end of May, and a surge to the next big round number would put the seal on an astonishing run for the chipmaker.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.