Wall Street buoyed by US Walk back on China tariffs- Nasdaq 100 leads again

The Nasdaq 100 was once again the leader in the higher closes on Wall Street last night. The more conciliatory tone towards China from a number of US officials (mainly from Bessent) helped tech stocks to lead the way higher. So, the Nasdaq 100 closed 2.28% higher on the day. That compared to a rise of 1.67% for the S+P 500 and 1.07% for the Dow Jones. The US PMI data was rather mixed yesterday afternoon, with a beat on manufacturing offset by a miss on services. The main gainers across the Nasdaq yesterday featured Palantir, Marvell Technology, Intel and Tesla. So, at one point the Nasdaq 100 did manage to vault 19k (reached 19,043), but it could not hold all of that gain into the close. The index later closed 416 points higher, at 18,693. Overnight the Asian markets are mixed and gains where seen do not come close to what we saw in the US last night. So, the Nasdaq 100 futures are lower this morning. That has added a little pressure onto the opening outlook for the Nasdaq 100. There will be more to add on that and the upcoming earnings reports later today. The Nasdaq 100 is right now priced to reopen around 18,650