Wall Street bounces back. Nasdaq 100 (US100) contracts break through a key resistance zone 📈.
- U.S. indices return to gains after initial sell-off due to higher NFP reading
- Despite the increase in employment, the report indicated no change in unemployment and lower-than-expected wage growth
- Strong labor market continues to provide a solid foundation for still-satisfying earnings for U.S. companies
The publication of another strong data from the U.S. labor market-although it did not produce the market-desired decline in employment-proved to be an opportunity to 'sell the facts'.
At the moment, futures on the Nasdaq 100 (US100) are approaching the key psychological resistance at 15,000 points. Against the backdrop of BigTech companies, the vast majority of which are driving growth, Tesla (TSLA.US) is performing poorly, having once again decided to cut the prices of models offered to the US market in order to improve demand.
Increases also persist on the S&P 500 and DIJA, where yesterday's sell-offs are trying to unwind Coca-Cola shares and Disney is gaining more than 2% after positive comments from Seaport analysts.
Along with the rise on Wall Street - the EURUSD is also seeing a rebound, with yields retreating from record levels after 34 straight weeks of inflows into treasuries.
Sentiment is also improving in the precious metals market, with silver coming to the fore and gaining nearly 3% intraday at the moment.
US100 quotations. H1 interval. Source: xStation 5
EURUSD quotes. H1 interval. Source: xStation 5
SILVER is currently approaching the barrier set by the 50-period EMA (blue curve) on the H4 interval. Source: xStation 5
