Nasdaq 100: Marvell Drops 16% At present as Tech Shares Slide and PCE Knowledge Hits Sentiment…

Friday’s promoting comes after the index hit a file 24,068.50 earlier this month, solely to retreat and take a look at assist close to 23,035 final week. The 50-day easy shifting common (SMA), at the moment at 23,223, continues to supply short-term assist, whereas the longer-term 200-day SMA stays properly beneath at 21,705, underscoring the broader bullish development nonetheless intact.

How Is the Fed’s Inflation Gauge Shaping Charge Minimize Bets?

The July core PCE studying rose 2.9% year-over-year, consistent with expectations however increased than the prior month. Whereas this knowledge retains hopes alive for a possible September fee lower, it additionally alerts persistent inflation pressures, leaving the Fed in a wait-and-see place.

In accordance with Morgan Stanley’s Ellen Zentner, except labor market weak point turns into extra pronounced, the Fed might hesitate to ease aggressively. Subsequent week’s non-farm payrolls report could possibly be a key set off for near-term fee expectations.

Semiconductors Lead Nasdaq 100 Decline as AI Commerce Cools