Solid News

Nasdaq 100, Market Update

8/16/2022 1:51 PM

The US stock market continues to correct upwards on the back of positive news from the corporate segment, as well as the ongoing correction in the domestic bond market. One of the leading US indexes, Nasdaq 100, shows an upward trend at 13649.0.

Yesterday, the chief executive officer of investment fund Third Point LLC announced the buyout of a substantial stake in entertainment company The Walt Disney Co. and plans to discuss strategic changes with its management, as a result of which the papers of the corporation began to grow actively. Another leader in the information background is the manufacturer of electric vehicles Tesla Inc., whose head Elon Musk is preparing to appear in court and argue his refusal to purchase the social network Twitter Inc. Already, the businessman is trying to form a positive fundamental background around his company so that if a decision is made in favor of the plaintiff, he will be able to pay penalties. In particular, he said that Tesla Inc. has already produced more than 1.0M vehicles at the new plant in Shanghai, which was the reason for the growth of its stock quotations by more than 3.0%.

A downward correction continues in the domestic bond market: the rate of return on popular 10-year bonds is 2.777%, and today it is decreasing by 0.50%, while the yield on conservative 20-year bonds fell to 3.2963%, having lost 0.47 since the beginning of trading %.

The growth leaders in the index are: Illumina Inc. (+8.77%), Gilead Sciences Inc. (+5.16%), Pinduoduo Inc. (+4.77%), and Vertex Pharmaceuticals (+3.74%).

Among the decline leaders stand out: eBay Inc. (–1.54%), IDEXX Laboratories Inc. (–1.41%), Align Technology (–0.97%), and Seagen Inc. (–0.95%).

The trading instrument continues its positive dynamics, leaving the limits of the downwards channel. Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are moving above the signal line, expanding the range of fluctuations, and the AO oscillator histogram is steadily rising in the buying zone.

Resistance levels: 13891.0, 15148.0. | Support levels: 13318.0, 12574.0.

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