The one-way trade in the Nasdaq since May has extended further, with the index rising 1.0% to the best levels since April 2022.
Intel is leading the way today with a 4% gain despite incoming China export controls on semiconductors. Tesla and Activision-Blizzard are other notable gainers.
Tomorrow we get the US retail sales report for June with expectations for a 0.5% rise. A strong report would actually hurt the Nasdaq because it could mean higher US interest rates for longer. Ideally, it would come in right at consensus or just below.
