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Published: 5 October 2026,06:00
Daily Market Analysis New
*The Nasdaq-100 reached fresh all-time highs as sustained optimism surrounding AI and technology continued to drive market leadership.
*September payrolls rose by just 29,000, reducing near-term Fed rate-hike expectations and boosting semiconductor and AI-related stocks.
*AI investment and a less hawkish Fed backdrop may support further gains, though sticky inflation and elevated Treasury yields could drive volatility.
The Nasdaq continues to demonstrate resilience and leadership on Wall Street, with the Nasdaq-100 reaching fresh all-time highs amid sustained optimism surrounding artificial intelligence and broader technology advancements. Despite ongoing market hesitation over the Federal Reserve’s potential path toward more lenient monetary policy, technology stocks have remained the clear market leaders, underscoring investor preference for growth-oriented counters in the sector.
Last Friday’s softer-than-expected Nonfarm Payrolls report provided an additional tailwind. The U.S. economy added only 29,000 jobs in September, well below forecasts, with downward revisions to prior months and a modest rise in the unemployment rate to 4.2 percent. The data significantly reduced the probability of a near-term Federal Reserve rate hike, easing some pressure from elevated Treasury yields and supporting risk appetite. Technology names, particularly those linked to semiconductors and AI infrastructure, led the advance as markets interpreted the cooler labour reading as reducing the urgency for further tightening.
Looking ahead this week, the soft employment data may continue to bolster the Nasdaq if it reinforces expectations of a more patient Federal Reserve stance. Persistent AI-related earnings momentum and capital expenditure trends remain key fundamental supports. However, residual caution around sticky inflation, still-elevated long-term yields, and upcoming economic releases could introduce intermittent volatility. Overall, the combination of structural technology optimism and a less hawkish near-term rate backdrop positions the tech-heavy index for potential further gains, provided broader market sentiment does not shift decisively risk-off.
The Nasdaq has broken decisively above its long-term ascending-triangle formation and is holding near record territory, reinforcing the index’s broader bullish technical structure. The breakout suggests that buyers remain firmly in control and that the prevailing uptrend retains sufficient momentum to extend further.
Momentum indicators support the constructive outlook. The Relative Strength Index is hovering close to overbought territory, reflecting strong buying pressure, while the MACD has rebounded above the zero line and continues to improve, signalling renewed upside momentum.
The near-term bias remains bullish as long as the Nasdaq holds above the former triangle resistance, which may now serve as support. However, with the RSI approaching overbought levels, the index could experience a period of consolidation or a modest technical pullback before resuming its advance. A sustained move back below the breakout zone would weaken the bullish setup and raise the risk of a deeper correction.
Resistance Levels: 31,400.00, 32,190.00
Support Levels:30,132.00, 29,511.80
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