Five reasons Nasdaq is flying – Big tech earnings reports [Video]

Welcome to today’s Market Blast.

Today, we will take a look at Forex Trading on the USD Index, Gold, XAU/USD, Microsoft, Google, Amazon, Facebook, and the NASDAQ.

The success of the NASDAQ cannot be denied, with price action moving higher since the first day of the month

Basically, earnings reports from tech companies are all beating analysts’ expectations, creating a serious risk-on mood with more companies due to report.

AI is still the main driver, with serious demand for semiconductors, helping that sector.

The market has got used to the Iran war, and the shock is over, even though there is no end in sight to the Iran war.

There is still a lot of liquidity, and investors want to put that to work.

NASDAQ companies seem to be a good bet for these investors.

And, finally, analysts are expecting this momentum to continue with double-digit growth for many tech companies.

This month, we are waiting for earnings reports from Microsoft, Alphabet (Google), Amazon, and Meta, just to name a few.

Microsoft has been falling all year, but we have seen it rally this month.

Alphabet or Google has rallied as well, but is looking better for the year

Amazon has been a giant range trade with price action looking to break resistance.

We have seen the same rally in Meta, but trending down since last year.

This risk-on mood has taken the shine off gold, with price action falling into a descending triangle with support at $4,670.

Any good news on geopolitical events, like the Iran war, should see precious metals falling along with a stronger USD.

The USD Index is climbing as inflation, a result of the Iran war, may cause the Fed to rethink interest rate reductions.