Nasdaq 100 futures struggling for traction this morning

As the European stock markets open higher and in some cases set fresh records (see DAX in the previous update), there is an element of those markets playing catch-up from last week. As mentioned here earlier today, the Nasdaq 100 was the best performing index in the US yesterday and that is because it closed higher on the day, but not by very much. The Nasdaq 100 closed 38 points higher, at 18,293. Here is what we do know over the first 3 months of the year- the US stock market rally actually broadened out. That is because over the period the S+P 500 outperformed the Nasdaq 100 in percentage terms. Right now there are growing signs of strain within that Mag 7 group of companies- Tesla and Apple are two prime examples of that most recently and the voices of concern over the high valuations of some of that group are growing louder by the day. Last week, the Nasdaq 100 failed to set fresh records above 18,464 and closed yesterday at 18,293. The index future is right now pricing a lower reopening for later today, currently at 18,250