Nasdaq-100 Futures Rise 1% as Oil Pulls Back and Big Tech Earnings Loom
NDX sits 26% above its 52-week low of $22,673.875.
Summary
Nasdaq-100 futures are up about 1% in pre-market trading on July 20, recovering from last week's 2.9% drop in the Nasdaq Composite. The bounce comes as oil prices retreat from intraday highs above $91 a barrel, easing some geopolitical anxiety after a weekend escalation in the US-Iran conflict. The US launched its ninth straight day of strikes, and Iran retaliated against US allies including Kuwait, but reports that mediators Pakistan and Qatar have contacted Tehran are raising hopes for diplomacy. This week's earnings from Alphabet, Intel, IBM, and Tesla will be closely watched for signs that heavy AI investments are starting to pay off. The Nasdaq 100 has seen 1%+ daily swings in 20 of the last 26 sessions, so today's futures move fits a pattern of high volatility.
At the time of this announcement, NDX was trading at $28,592.66 on NASDAQ in the Technology sector. The 52-week trading range was $22,673.88 to $30,762.20. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: CNBC TV18.