"The Nasdaq 100 ended the latest session with a modest gain of around 0.04%, closing near 24,202, reflecting a late-session recovery after facing selling pressure for most of the trading day."
"The recovery has been supported by a shift in geopolitical expectations, including a temporary two-week ceasefire agreed upon by the U.S. and Iran, conditional on reopening the Strait of Hormuz."
"At the component level, the index's gains were primarily driven by strong performances in select technology names, particularly within semiconductors and cybersecurity, with Broadcom and CrowdStrike both rising over 6%."
"Core conditions remain largely unchanged, with U.S. Treasury yields hovering at elevated levels around 4.2%-4.3% for the 10-year, while oil prices remain relatively high despite a sharp pullback."
The Nasdaq 100 closed at approximately 24,202, reflecting a modest gain of 0.04% after a late-session recovery. This gain follows five consecutive sessions of increases from a recent low of 23,000, indicating returning dip-buying demand. The recovery is attributed to easing geopolitical risks, including a temporary ceasefire agreement involving the U.S. and Iran. Strong performances in technology stocks, particularly semiconductors and cybersecurity, contributed to the index's rise, although market breadth remains narrow with only a few stocks driving gains.
Read at London Business News | Londonlovesbusiness.com
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