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Published: 9 September 2026,08:23
Daily Market Analysis New
*AI and semiconductor strength is keeping the Nasdaq resilient despite weakness in the Dow and S&P 500.
*Friday’s U.S. CPI could reshape Fed rate expectations, with hotter inflation likely to push yields higher and pressure growth stocks.
*Rising oil prices and Middle East tensions are adding inflationary pressure and could challenge the Nasdaq’s relative strength.
The Nasdaq Composite has shown notable resilience in recent sessions, decoupling from the broader market as the Dow Jones Industrial Average and S&P 500 exhibited clearer signs of weakness. While the Dow posted a sharp decline exceeding 1% and the S&P 500 also finished lower, the tech-heavy Nasdaq limited its losses, supported by continued enthusiasm surrounding artificial intelligence and growth-oriented sectors. Semiconductor and AI-related names, including strength in key chipmakers, have provided a buffer against the wider selling pressure, keeping the index trading not far from the psychologically significant 30,000 level.
This outperformance reflects investor preference for companies positioned to benefit from long-term technological themes, even as macroeconomic and geopolitical headwinds intensify. However, the primary near-term challenge for the Nasdaq remains Friday’s U.S. Consumer Price Index release, widely viewed as the final major data point that will shape expectations for the Federal Reserve’s monetary policy decision next week. A hotter-than-anticipated inflation reading could reinforce rate-hike bets, lift Treasury yields further, and weigh on growth stocks that are particularly sensitive to higher discount rates.
Compounding these pressures are the intensified geopolitical tensions in the Middle East, which have driven crude oil prices higher and contributed to elevated U.S. Treasury yields. The combination of rising energy costs and firmer bond yields has created a less supportive backdrop for equities overall. In the near term, the Nasdaq’s ability to maintain its relative strength will depend on whether AI and growth sector momentum can continue to offset these broader risks. A favourable CPI outcome could allow the index to challenge higher levels, while any confirmation of sticky inflation or further escalation in regional conflicts would likely test its resilience and increase the risk of a deeper pullback.
Nasdaq, H4:
The tech-heavy Nasdaq is currently trading sideways underneath the strong resistance level at 29,670.00, where the index has faced repeated rejection in recent sessions. The inability to break above this area suggests that selling pressure remains present around the resistance zone, while the ongoing consolidation indicates that the market is still waiting for a clear directional catalyst.
The 29,670.00 level has therefore become a critical short-term resistance to watch. Should Nasdaq gather sufficient momentum and break decisively above this level, it would provide a strong bullish signal and suggest that buyers have regained control. Such a breakout could potentially open the path for the index to challenge the psychological 30,000 mark, which would represent another significant milestone for the current bullish structure.
On the other hand, another rejection underneath 29,670.00 could indicate that the index remains unable to overcome the existing selling pressure. Should the rejection be followed by a sustained move lower, Nasdaq could enter another round of technical correction and potentially revisit its previous low near 29,000.
A break below the 29,000 area would then become an additional warning sign, as it could suggest that the current consolidation has developed into a deeper bearish correction. However, as long as the index remains supported above this area, the downside move could still be viewed as a technical retracement rather than a confirmed broader trend reversal.
Resistance Levels: 29,670.00, 30,186.00
Support Levels: 29,085.00, 28,480.00
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