USTEC rose after avoiding Lutnick as a Treasury Secretary
<Fundamental>
The Nasdaq index has surged, fueled by solid expectations surrounding Nvidia's Q3 earnings and the alleviation of uncertainty following the appointment of the new Treasury Secretary.
Investors are breathing a sigh of relief as Howard Lutnick, a staunch supporter of Trump's tariff policies, has been nominated for Commerce Secretary rather than Treasury Secretary. In contrast, Kevin Warsh, who is running for Treasury Secretary, has openly criticized protectionist measures such as tariffs. This shift has heightened expectations that some economic issues stemming from Trump’s tariff policies will be mitigated.
Furthermore, Wall Street consistently raises Nvidia's target stock price. Investors anticipate that Nvidia's Q3 earnings will surpass market consensus, and Wall Street confidently anticipates that the Q4 guidance will also exceed expectations.
<Technical>
USTEC briefly tested the support at 20300 and rebounded to 20770. The index sustains upward momentum, holding above the trend line. If USTEC sustains its upward trend above the resistance at 20700, the index could gain upward momentum toward the 21250 high. Conversely, if USTEC fails to hold above the trend line and 20300, the index may fall further to 19950.
The Nasdaq index has surged, fueled by solid expectations surrounding Nvidia's Q3 earnings and the alleviation of uncertainty following the appointment of the new Treasury Secretary.
Investors are breathing a sigh of relief as Howard Lutnick, a staunch supporter of Trump's tariff policies, has been nominated for Commerce Secretary rather than Treasury Secretary. In contrast, Kevin Warsh, who is running for Treasury Secretary, has openly criticized protectionist measures such as tariffs. This shift has heightened expectations that some economic issues stemming from Trump’s tariff policies will be mitigated.
Furthermore, Wall Street consistently raises Nvidia's target stock price. Investors anticipate that Nvidia's Q3 earnings will surpass market consensus, and Wall Street confidently anticipates that the Q4 guidance will also exceed expectations.
<Technical>
USTEC briefly tested the support at 20300 and rebounded to 20770. The index sustains upward momentum, holding above the trend line. If USTEC sustains its upward trend above the resistance at 20700, the index could gain upward momentum toward the 21250 high. Conversely, if USTEC fails to hold above the trend line and 20300, the index may fall further to 19950.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.