NASDAQ Index, SP500, and Dow Jones Forecasts: Market Retreats Amid ASML's Earnings Reaction

Market Analysis: NASDAQ, SP500, and Dow Jones Forecasts

The NASDAQ Index and SP500 have come under pressure as ASML's earnings report led to a sharp pullback in tech stocks. ASML reported order bookings of 2.6 billion euros in Q3, significantly below the analyst consensus of 5.39 billion euros. Additionally, the company's lowered guidance for the upcoming year has raised alarms among traders regarding restrictions aimed at curbing China’s access to advanced technology, potentially depressing tech stocks' profits.

Current Market Conditions

• SP500 faced resistance between 5870 and 5880, now pulling back. A drop below 5830 could lead toward the next support level at 5800-5810.
• In the NASDAQ Index, significant losses were recorded among top tech stocks like Advanced Micro Devices, NVIDIA, and Micron.
• The nearest support for NASDAQ is within the 20,000-20,100 range, with potential for further declines if it falls below 20,000.

Dow Jones Insights

The Dow Jones is also trending lower, primarily pulled down by a 7.7% drop in UnitedHealth Group's stock due to revised profit guidance. A breach below the support at 42,600-42,700 could see it target the next support zone at 42,100-42,200.

For those interested in further economic insights, please consult our economic calendar for today's major events.