NSDQ100 ahead of US CPI Geopolitics dominated sentiment over the past 24 hours, setting the tone for today’s NASDAQ 100 session.
Market backdrop:
Fresh US sanctions on Russian oil sparked a surge in energy prices, with Brent crude posting its largest two-day gain since 2022. The move drove a sell-off in global bonds, as 10yr US Treasury yields rose +5.1bps, their biggest daily increase in over a month, ahead of the long-delayed September CPI report.
Despite the rise in yields, equities held firm, buoyed by improved risk appetite. The NASDAQ 100 gained +0.58%, supported by renewed optimism in the tech sector and positive sentiment following the White House confirmation of a Trump–Xi meeting next week, which helped temper trade war concerns.
Drivers for today:
US CPI (September) – the first major data point since the government shutdown. A softer print could reinforce expectations of a Fed rate cut next week, while a stronger reading risks unsettling both bonds and high-valuation tech names.
Geopolitical dynamics – Markets remain sensitive to any new developments in the US–China trade narrative and Russia sanctions, which continue to drive energy and inflation expectations.
Tech sentiment – Optimism in large-cap tech remains supportive, though rising yields could limit upside momentum.
Commodities:
Gold is on track to end its nine-week rally, down over 3% this week as investors rotate out of safe havens amid hopes of easing geopolitical tensions.
Outlook:
The NASDAQ 100 enters the session on firmer footing, with risk appetite improving thanks to trade optimism. However, volatility is likely around the CPI release, which will be the key determinant for near-term Fed policy and tech sector performance.
Key Support and Resistance Levels
Resistance Level 1: 25350
Resistance Level 2: 25466
Resistance Level 3: 25600
Support Level 1: 24917
Support Level 2: 24700
Support Level 3: 24400
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