Upbeat Nvidia Message Helps NAS100 Overcome Upside Inflation Surprise
NAS100 Analysis
Headline CPI inflation eased to 2.5% y/y and the lowest in more than three years, but that was mostly a result of lower oil prices. Core measures were more persistent, with the 0.3% m/m increase, providing an upside surprise. Overall the data confirmed the disinflation trend and rubberstamp a Fed pivot next week, but also made an outsized 0.5% cut much harder.
However, markets still price in an aggressive easing path, while upbeat messaging by Nvidia's CEO fueled a return of tech optimism, after recent concerns. Mr Huang touted "great" AI demand and rapid innovation pace at Goldman Sachs Communacopia on Wednesday [1], helping the rebound of NAS100.
The tech heavy index reclaims the EMA200 and now has the opportunity to push for 19,951, although the all-time peak (20,788) looks distant. On the other hand, market expectations for at least 100 bps of cuts this year seem exaggerated, while the RSI points towards overbought conditions. As such, NAS100 could slip back into although sustained weakness below the 200Days EMA (blue line), has a higher degree of difficulty.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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