Nasdaq shifts into high gear, up 1%

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Nasdaq 5 mins

The Nasdaq has extended its gains to 1.1% today as it chews into the late-day drop from yesterday. Importantly, the earlier series of highs in the 15,750 range have given way.

The index has been helped by chipmakers today after Qualcomm reported better earnings and the shares rose nearly 10%. Nvidia, Apple and Amazon are other tailwinds.

The broader S&P 500 is up 0.6%.

The big event after the close today is the earnings report from Apple. Alongside AAPL, we will get Coinbase, Draft Kings, US Steel and Booking Holdings.

The FX market has followed the improving mood with the commodity currencies at the best levels of the day and the euro now into positive territory.

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