Nasdaq 100 leads modest US market losses as Powell reverses the rhetoric

Once again the Nasdaq 100 was the weakest of the three main US stock market indexes by the close last night. However, for most of the session the Nasdaq was leading in that regard. The index handed back 0.66% by the close, compared to a 0.61% for the S+P 500 and 0.47% for the Dow Jones. So, as you can see, it was also a pretty even spread. The Nasdaq was led lower by leading losses in Super Micro Computer and Tesla. The index closed 139 points lower at 20,896 and the range on the day was defined by 20,864 and 21,067. So, as you can see, it closed towards the lower end of that range. Overnight and this morning the index futures have fallen back, despite a relatively positive Asian session today. The real driver for the losses stateside last night seems to rest with comments from Jerome Powell, now arguing that there is no rush for further rate cuts. That, coupled with some possible concerns surrounding the President Elect latest job picks could have caused the markets to pause for breath it seems too. So, right now the Nasdaq 100 is currently priced to reopen at around 20,735