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Nasdaq 100 Technical: Rising US Treasury Yields Could Overshadow Mega-Cap Earnings

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Nasdaq 100 News

S&P 500,Microsoft Corporation,Alphabet Inc Class A

Stocks Analysis by MarketPulse (Kelvin Wong) covering: Nasdaq 100, S&P 500, Microsoft Corporation, Alphabet Inc Class A. Read MarketPulse (Kelvin Wong)'s latest article on Investing.com

Five mega-cap technology stocks will report their respective earnings results this week.A continuation of the surge in the 10-year US Treasury yield may challenge the positive vibes from the US mega-cap technology earnings results.Ex-post earnings share performances of these five mega-cap technology firms after one to two days from their prior Q2 respective earnings results release dates had been lacklustre.

The “Trump Trade” narrative has gained traction in the recent week due to rising odds of Republican nominee Trump winning the US presidential election based on data from betting markets . The 10-day moving average of the Nasdaq 100’s 52-week high minus 52-week low market breadth indicator has continued to print a lower low and inched downwards.

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