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NASDAQ Set to Remain Steady in Week Ahead

NASDAQ Set to Remain Steady in Week Ahead

Last week saw the NASDAQ rise from just above 5500 towards the 5600 level and it briefly hit 4,608.13 on Friday before dropping back to around 4580 on Monday.

Vertex was one of the biggest gainers on the NASDAQ last week climbing 12.61%. Baidu, Micron, Xilinx and NXP also had good weeks. The biggest losers were VimpelCom, Adobe, Yahoo and Catamaran.

After the Scottish referendum, the Federal Reserve meeting and Alibaba’s IPO, the week ahead contains little new information. The end of last week saw technology companies struggling in general, mainly as investors sold stock in order to invest in Alibaba. Over the coming week it’s safe to assume that the index will stay relatively flat. However, if the dollar continues its upwards trend then there may be a similar rise in the NASDAQ back towards the 5600 level.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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