NDXUSD

The Nasdaq index is supported by expectations of strong U.S. retail sales (%1.4, up from the previous %0.2), despite significant declines anticipated in the Philadelphia Fed Manufacturing Index (from 12.5 to 3.1). While China's restrictions on the export of critical minerals and magnets threaten the technology supply chain, this poses risks for chip manufacturers and technology companies. Signals regarding interest rate cuts that Powell will provide in his speech on April 16 are also critically important for the index. Weak Chinese GDP data may raise concerns about global growth and create selling pressure on stock shares. Technically, the index is trading between the resistance zone of 19,117 and the support zone of 18,600.