US OPEN: Optimism in tech is back, NASDQ100 at its highest level in 3 months

The start of a new week brings a moderate improvement in sentiment across the broader equity market. In the US, during Monday’s session, the technology sector is taking the lead. NASDAQ 100 futures are up around 0.9%. Other indices are also posting moderate gains in the 0.7% to 0.4% range.

• The coming week in September will be dominated primarily by closely watched diplomatic events. On Thursday, General Secretary Xi Jinping is expected to meet President Donald Trump in Washington. The meeting agenda is not yet known, although the market is clearly anticipating communication on key topics such as trade, AI, and the conflict in the Middle East.
• The conflict between Iran and the US has already clearly spilled over into the broader Middle East region. Over the weekend, a number of incidents involving exchanges of fire between the US-led coalition and Iran’s “axis of resistance” were confirmed. The presumed ceasefire between the US and the Houthis appears to be partially holding. There are no reports of threats to shipping, although the rebels regularly carry out attacks on Saudi infrastructure and personnel. At the same time, data from Kpler indicate that Saudi exports rose above 4 million barrels per day (up 200% versus August). Even more optimistic are representatives of CENTCOM theater command, who claim export volumes have already reached the highest levels since the start of the war and are steadily approaching pre-war levels.
• A Wall Street Journal report indicates that Anthropic may have delayed its IPO planned for this year, mainly due to massive negative cash flows, although this information has not been officially confirmed. At the same time, OpenAI admitted to negative cash flows of USD 278 billion.

Company news

• Accenture (ACN.US): The consulting firm is up about 4% after reports that it has entered into cooperation with Anthropic to jointly test advanced AI models.
• Critical Minerals (CRML.US): The stock jumps as much as 25% following comments by D. Trump, who said he had negotiated “control over Greenland’s security,” which would ostensibly allow the company potential access to the island’s resources.
• Strategy (MSTR.US): Crypto-linked companies are rising sharply after a decision by the US regulator that is expected to significantly expand trading possibilities for “tokenized” financial assets. The stock is up 9%.
• ARM Holding (ARM.US): The company’s CEO expressed confidence in the company’s ability to convert orders for its “AGI” processors into revenue. The stock gains about 8%.
• Warner Bros (WBD.US): The stock rises about 7% after reports that it reached an agreement with California state officials regarding the company’s acquisition.
• HP (HPQ.US): The producer of computers, software, and server equipment forecasts a single-digit decline in PC market sales volumes. The stock falls about 4%.

Technical analysis of US100 (D1)

Price on the chart has surged back above the key level of around 30,100 points, while also breaking above the short-term descending trendline. Upward momentum may be supported by a MACD signal, although it is worth noting that RSI (14) is already approaching overbought levels. Buyers clearly want to take the initiative, but a broad resistance zone may significantly hinder or delay a potential return toward the ATH area. Source: xStation5

Macroeconomic data

In terms of macroeconomic releases, the start of the week is very light on information.

• Thirty-five minutes after the US market open, the Governor of the Bank of Canada will hold a press conference, during which the further direction of the country’s monetary policy may be presented.