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Nasdaq 100 backs away from all time record highs
Last week the Nasdaq 100 surged to a new all time record high at 17,665. The initial break out actually took place the week before on January 19, when the index lifted above the existing record and took out 17k for the first time ever. The back end of last week saw the Nasdaq drop back and saw it retrace to a low at 17,395. The index later closed out the week at 17,421, with a loss of 95 points on the day. Overnight the Nasdaq 100 futures have rebounded from earlier session lows, indicating a reopening for later today at below 17,350. Of course the month end is looming now and tomorrow after the closing bell we get some major tech Q4 earnings results to consider too. Those come from Alphabet (GOOGL) and Microsoft (MSFT). There will be more to add on the the prospects there in due course. Meantime, the Nasdaq 100 futures are currently pricing the reopening for later today at around 17,435
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