Following bullish market mood, the US500 (S&P500) and US100 (NASDAQ) futures indexes traded at historic highs on Monday. Following a district court decision dismissing the Federal Trade Commission’s antitrust case against Facebook, the US100 index gained momentum (up 4.18 percent ). Intel (up 2.81 percent), Microsoft (up 1.4 percent), and Apple (up 1.26 percent) were among the technology giants that contributed to the US100 index’s climb.
The S& Since June 21, it has been trading in an upward channel. At 4264 points, the nearest support is found.
Meanwhile, the US100 established a new intra-day high of 14,517.80 points before falling to 14,492 and closing at the psychologically important 14,500 mark. The nearest support is at 14,420 points, which is significantly below the current price.
The strengthening of the US100 was aided by a rally in technology stocks, as Facebook was able to secure a court order to dismiss two antitrust lawsuits filed by prosecutors. The jump in Facebook shares lifted the firm’s market valuation above $1 trillion, putting it in company with other prominent digital corporations in the trillion-dollar club. In 2021, Facebook shares ended at an all-time high of $355.37, a gain of more than 30%. Only three of the 58 analysts followed by Bloomberg now place Facebook shares in the Sell category, with 49 putting them in the Buy category, 6 in the Holdings category, and 49 putting them in the Buy category.
The Asian session tempered the positive attitude following the US close, as Covid infections and prolonged lockdowns dragged on markets. The Nikkei JPY225 fell to a 5-day low of 28,689 before recovering to settle at 28,812 in late trading (-0.81 percent ).
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