Nasdaq Composite To Record Negative Weekly Close As AI Earnings Disappoint
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Traders Union558 FollowersFollow5ShareSavePlay(4min)CommentsSummaryNasdaq fell to a six-day low as Oracle-led tech weakness hurts AI-tech sentiment.Fed’s $40B liquidity boost fails to offset AI-related earnings concerns this week.Nasdaq RSI recovers to bullish territory but risk bearish weekly close. hapabapa/iStock Editorial via Getty Images By Sholanke Dele The Nasdaq Composite Index is tracking for a bearish weekly close after a volatile sequence of swings shaped by both macro developments and sector-specific pressures. Since the start of the week, theThis article was written byTraders Union558 FollowersFollowTraders Union is a leading financial portal dedicated to empowering traders and investors with essential information to maximize their success in the financial markets. Its mission is to create a trusted platform where users can easily access comprehensive details about the top brokerage firms offering the most favorable and seamless trading conditions. Founded in 2010, Traders Union was built on the idea of providing thorough and unbiased reviews of international forex brokers, along with high-quality content covering global trading and investment trends. Traders Union saves time and effort by making the process of selecting a reliable broker hassle-free. With the Traders Union Broker Rating, users have all the data needed to make well-informed decisions, eliminating the need for endless research and review reading.Quick InsightsHow did Oracle's results impact Nasdaq sentiment this week?Oracle's cloud revenue miss triggered a sector-wide selloff, deepening concerns about stretched AI valuations and pressuring the broader Nasdaq Composite.What technical levels are key for Nasdaq's near-term direction?Support was found at the 1-hour 100 EMA (23,300), with resistance at the weekly open (23,640); reclaiming 23,640 is crucial for a positive weekly close.How are macro factors influencing tech sector performance versus monetary policy?Despite the Fed's rate cut and improved liquidity, tech investors remain preoccupied with sector-specific risks, particularly AI earnings and regulatory scrutiny, limiting the impact of monetary stimulus.Recommended For You