Nasdaq 100 Tech Stock Index Hits All-Time High, Wall Street e | ASTRONACCI (Official)✔

Nasdaq 100 Tech Stock Index Hits All-Time High,

Wall Street equities edged broadly higher on Thursday as robust US corporate earnings boosted sentiment, easing worries about the pandemic’s impact. The #Nasdaq 100 index closed at an all-time high of 15,181, lifted by PayPal (+1.88%), NVIDIA (+1.79%) and Facebook $FB (+1.13%). The flareup of the Delta variant around the world may lead to a slower economic recovery, potentially delaying the Fed’s tapering agenda.

Today’s nonfarm payrolls data under the spotlight, as traders seek further clues about the health of the labor market and its ramifications for the Fed’s policy guidance. Prior to this, ADP released a much poorer-than-expected private employment report, with only 330k new jobs added in July -the lowest pace of expansion in six months. This also marked a sharp fall from June’s reading of 680k.

Nonetheless, several Fed officials gave hawkish-biased comments as they remained positive on the growth outlook. Fed Governor Christopher Waller said that accommodative monetary policy could pull back sooner than some people expect, echoing Vice Chairman Richard Clarida’s hawkish-biased comments a day ago.

Asia-Pacific markets may continue to trail behind their US peers due to lingering viral concerns and a widened crackdown on private sectors in mainland China. Liquor and e-cigarette stocks fell on Thursday amid fears that they may be the regulator’s next target. Mainland and Hong Kong stocks look set to consolidate further until the political skiers are clearer.