U.S stock extend climb after NVDA – OpenAI deal

The stock market continues its rally this week after NVDA announced investment in OpenAI worth $100b to build data centers. The deal could spark more growth in AI sector, which drive the technology sector’s EPS in 2026 and coming years. As the market is on bullish mode, especially after the rate-cut, we might see the stock market continue upward. Under current situation, waiting for correction in price after massive rally might be one of the better idea.

Dow Jones Industrial Average (INDU)

DJIA index continue its upward grind and print new record high. No change of sentiment yet, the index could continue moving upward and print new high. If a bearish correction happens, then the 45,000 level and the orange trend line are the major support levels to watch. We still expect the index to continue the bullish trend, especially when the situation also supported from fundamental side.

McDonald Corporation (MCD)

MCD share prices looks trading between $283.50 – $320.00 range. The bearish rejection from top of range brought the share prices down toward the daily SMA 200. It might form support and attempt to bounce upward. However, if the bearish movement continues, then MCD might continue toward the lower trend line and the bottom of range. Traders could use the current level and the trend line as a place to enter long positions.