Nasdaq 100 Futures Jump 1.5% as Inflation Cools and GDP Misses
NDX sits 20% above its 52-week low of $22,673.875.
Summary
Nasdaq 100 futures surged 1.48% after June PCE inflation came in cooler than expected, with core monthly increase of 0.1% versus 0.2% estimate. Q2 GDP growth of 1.5% missed the 2.1% forecast, reinforcing hopes the Fed can ease rate hikes. Jobless claims were slightly below estimates at 197,000. This follows yesterday's 2.1% drop that pushed the index into correction territory, down 11% from its June record. The data offers a potential turning point for tech stocks battered by AI spending fears and oil-driven selloffs.
At the time of this announcement, NDX was trading at $27,192.31 on NASDAQ in the Finance sector. The 52-week trading range was $22,673.88 to $30,762.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.