(MENAFN- DailyFX (IG)) ​​​Macro update

​Dow sets new record as tech underperforms:

​The Dow Jones closed at an all-time high while the Nasdaq 100 dipped, as investors rotated away from richly valued technology stocks.

​Shutdown ends as Trump signs funding bill:

​President Trump approved a stopgap spending measure that ends the record-long US government shutdown, with markets now looking to the resumption of key economic data releases.

​Amazon and Tesla drag on Nasdaq:

​Amazon and Tesla each fell around 2%, adding to pressure on AI-linked names after SoftBank's sale of its Nvidia stake dented sentiment.

​AMD jumps on bold data-centre ambitions:

Advanced Micro Devices (AMD) surged 9% after unveiling a $100 billion data-centre revenue target, helping offset some of the broader weakness in technology shares.

​Global indices hover near records as yen softens:

​The Topix, FTSE 100 and STOXX Europe 600 traded close to all-time highs, while the Japanese yen weakened after Japan's leadership urged the Bank of Japan (BoJ) to be cautious in tightening policy.

​Nasdaq 100 capped by resistance

​The Nasdaq 100 underperformed its peers such as the Dow Jones Industrial Average which this week made a new record high and has been capped by the 25,655-to-25,663 minor resistance zone all of this week.

​While this continues to be the case, the 10 and 20 October highs at 25,195-to-25,183 may be retested.

​Were a rise above the 25,655-to-25,663 area to be seen, though, the 26,000 region would likely be back in play.

Nasdaq 100 daily candlestick chart Source: TradingView ​EUR/USD leaves downtrend channel

EUR/USD managed to break through the downtrend channel resistance line and close above it on Wednesday without for that matter seeing any follow through to the upside as yet.

​For the advance to continue this week's high at $1.1606 needs to be exceeded. This would leave the way open for the September low and late October high at $1.1646-to-$1.1669 to be reached.

​Potential slips may find support between the 9-to-14 October lows at $1.1542.

​EUR/USD daily candlestick chart Source: TradingView ​WTI drops on OPEC outlook

WTI crude oil took a hit and swiftly slid towards the $58.00 region, adding to an over 4% slump from the previous session and taking it to a three-week low as OPEC pointed to a well-supplied outlook.

​A drop below Thursday's $58.12 intraday low would likely lead to the 14 October low at $57.68 being eyed. Further down lies the October trough at $55.96 which may also be revisited as long as no bullish reversal takes the oil price above Tuesday's $61.28 high.

WTI daily candlestick chart Source: TradingView Important to know

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