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NAS100 (NASDAQ) UPDATE
- Surprise should not be that stocks are backing off today (as oil prices surge higher) but at how resilient they have been.
- With that said, 25000 remains pivotal but only a solid and sustained move above would negate a choice between consolidation or a fresh test of the downside.
NAS100 4 HOUR CHART
XTIUSD UPDATE
- Looking ahead, its hard to see anyone wanting to be short oil ahead of the weekend, suggesting XTIUSD should maintain support on dips as long as it stays above USD75.00. stronger bod if 78.00 becomes support.
- Chart shows 78.83 and 80.99 as next key resistance on the chart with 80.00 the next pivotal level.
XTIUUSD DAILY CHART
FX option expiries for 5 March 10am New York cut
EUR/USD at the 1.1600 level. It’s the same story as yesterday as the expiries here also intersect at the same level. The dollar is once again stronger today as markets are feeling a bit more nervous again on the US-Iran conflict. And that is the bigger driver of trading sentiment at the moment.
If anything, the expiries could play a small role in keeping price action more cagey around the figure level. But in all likelihood, the impact of the expiries is likely to be more muted. That as there are bigger forces in play to drive price action as we look to the day ahead.
Oil prices are back on the up and inflation worries are creeping back in, making for a softer risk mood as we approach European trading. As such, that is underpinning the dollar again so EUR/USD may look to keep below 1.1600 with the expiries helping to limit the ceiling in the session ahead.
March 4 Post-Market Earnings Release Stocks
(AVGO) Broadcom posted Q1 revenue of $19.31 billion and earnings of $2.05 per share, exceeding estimates. Q2 revenue is expected around $22 billion, fueled by strong AI chip demand.
(STEM) STEM, Inc. posted fiscal 2025 revenue of $156.3 million, an 8% rise from last year, driven by service growth. The company reported a GAAP net income of $137.8 million, reversing a $854.0 million loss.
(RGTI) Rigetti Computing, Inc. has obtained about $5.7 million in orders for two Novera quantum systems and its first Novera QPU order from a Japanese research group.
Newsquawk Daily US Opening News – 5th March 2026
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Forex Market Snapshot
The dollar is trading generally firmer but off its highs of just a short while ago in a mini replay of yesterday’s headline driven day.
AUD, followed by the NZD and GBP are underperformers. There is no standout outperformer (CAD and CHF are about flat) in a market where the reaction to news more than the news itself is driving markets. In this regard, the reaction to the latest glimmer of hope headline has been more modest than to the head scratching response to the NYT article yesterday.
Challenger layoffs and weekly jobless claims data highlight another headline watching day.
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