Nasdaq 100 futures are facing significant resistance around the 27,600 level, with technical indicators suggesting a potential bearish trend. The daily candle formation resembles a gravestone doji, while the MACD indicates a bearish crossover. Despite this technical pressure, the broader earnings season remains supportive for equities, although geopolitical tensions in the Middle East could hinder further upward momentum.
In individual stock movements, Meta Platforms has seen a 9% drop after raising its full-year capital expenditure guidance, raising concerns about AI-related spending despite better-than-expected Q1 results. Conversely, Eli Lilly’s shares surged 7% after beating earnings expectations and raising its revenue guidance. Caterpillar also reported strong Q1 results, with a nearly 9% stock increase, driven by robust demand in construction linked to AI infrastructure.
Market professionals should monitor the Nasdaq’s resistance levels closely, as a failure to break through could signal a broader market pullback, especially amid mixed earnings signals and geopolitical uncertainties.
Source: xtb.com