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Published: 3 June 2026,06:58
Daily Market Analysis New
*Wall Street remains resilient, with the Dow, S&P 500, and Nasdaq continuing to trade near record highs despite ongoing geopolitical tensions.
*AI remains the market’s primary growth driver, supported by strong earnings, rising infrastructure spending, and continued investor enthusiasm across the technology sector.
*Companies such as HPE, Marvell, and Alphabet reinforced confidence that the AI investment cycle is still expanding and attracting significant capital.
Wall Street continues to demonstrate remarkable resilience despite rising geopolitical tensions, with the AI investment theme remaining the dominant force driving equity markets higher. The Dow Jones, S&P 500, and Nasdaq all closed at fresh record or near-record highs as investors largely shrugged off concerns surrounding the Middle East and instead focused on accelerating spending across the artificial intelligence ecosystem.
The latest rally was fueled by exceptionally strong performances from AI-related companies. Hewlett Packard Enterprise surged after delivering stronger-than-expected earnings and highlighting robust demand for AI servers, while Marvell Technology soared after Nvidia CEO Jensen Huang described the company as a potential future trillion-dollar stock. Additional support came from Alphabet’s announcement that it plans to raise approximately US$80 billion to fund further expansion of its AI infrastructure, reinforcing confidence that the AI investment cycle remains in its early stages.
At the same time, investors continue rotating capital away from more speculative areas such as cryptocurrencies and toward established technology and semiconductor companies. The Philadelphia Semiconductor Index surged nearly 6%, highlighting the concentration of market leadership within AI-related sectors. This AI-driven optimism has so far allowed equities to absorb concerns about rising oil prices, Middle East instability, and higher interest rate expectations.
Nevertheless, risks remain beneath the surface. Oil prices have climbed sharply as geopolitical tensions intensify, increasing concerns that inflation could remain elevated and force the Federal Reserve to maintain a hawkish stance. Stronger labor market data this week could further reinforce the higher-for-longer interest rate narrative. While the AI story continues to provide a powerful tailwind for equities, market leadership remains highly concentrated, meaning any disappointment from major technology companies or a significant escalation in geopolitical tensions could trigger broader market volatility.
Technical Analysis
Nasdaq, H4:
Nasdaq continues to trade higher after breaking to a fresh all-time high, with price extending gains above the key 29,930 resistance level. Recent price action reflects strong bullish momentum following the sharp recovery from April lows, as buyers maintain control and continue to push the index into uncharted territory.
Momentum indicators remain firmly supportive of the uptrend. The Relative Strength Index (RSI) has climbed into overbought territory, indicating strong buying pressure, although it also suggests that the market may be becoming stretched in the near term. Meanwhile, the MACD remains in positive territory, with both signal lines trending higher and the histogram turning positive again, reflecting renewed bullish momentum after a brief consolidation phase.Despite the strong rally, overbought conditions may increase the risk of short-term pullbacks or consolidation. However, as long as price remains above the 29,930 breakout level, the broader bullish structure remains intact, with no major resistance levels visible following the breakout to new record highs.
Overall, Nasdaq remains in a strong bullish trend after achieving a fresh all-time high. Continued strength above 29,930 could support further upside extension, while any near-term pullback may see buyers re-emerge around previous breakout levels to maintain the broader uptrend.
Resistance Levels: 31,870.00, 33,000.00
Support Levels: 29,930.00, 28,405.00
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