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Nasdaq – 100 Long

by SignalFactory   ·  July 31, 2020 | 09:45:40 UTC  

Nasdaq – 100 Long

by SignalFactory   ·  July 31, 2020 | 09:45:40 UTC  

Nasdaq – 100 futures soared as much as one percent after Thursday’s Wall Street close following US tech giants Facebook, Apple, Amazon, and Google smashing earnings expectations. These companies are also part of the FAANG group which includes Netflix. Their shares rose in after-hours trade, defending relatively elevated valuations compared to other sectors of the stock market like financial, real estate, and industrial shares.

U.S. stocks finished off their worst levels yesterday, with the Nasdaq eking out a positive finish as investors braced for a litany of quarterly results from behemoths of the technology and e-commerce world, which could influence trade to end a choppy week.

Markets were under pressure at the start of Thursday’s action, prompted by the worst GDP on record in the second quarter and a labor-market report that underscores a rise in COVID-19 cases. Lack of progress in talks between congressional Democrats, Republicans, and the White House on a new coronavirus aid package also weighed on sentiment…

The Nasdaq 100 jumped almost 200 points in premarket trading on Friday after Apple, Alphabet, Amazon, and Facebook all strongly beat earnings expectations for the second quarter despite the coronavirus crisis. In coronavirus news, United States President Donald Trump said that another shutdown would not be a good idea for the country in the long-run and that workplaces and schools must remain open despite the pandemic.

Nasdaq – 100 Long (Buy)

ENTER AT: 10992.2

T.P_1: 11437.9

T.P_2: 12190

S.L: 10369.7

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