Nasdaq Poised to Break Past 20,435.75 on Economic Data Hopes

The Nasdaq is approaching the 20,435.75 mark, driven by optimism around a potential Fed rate cut in September. Recent economic data, including softer PMI and factory orders, has fueled hopes of easing monetary policy. Despite a shortened trading session ahead of Independence Day, tech stocks are leading the charge. Anticipation of a rate cut has boosted market sentiment, encouraging investors to rally around high-momentum tech stocks. Keep an eye on this key level as the market continues to respond to economic indicators.