US Weekly Jobless Claims Exceed Expectations

GOOGL shares fell 1.9% in the last close and are trading below the 50-day moving average. Although the RSI is at 48, indicating a neutral zone, the MACD line remains below the signal line, pointing to short-term weakness. Higher-than-expected jobless claims in the news have heightened economic slowdown concerns, potentially pressuring equity markets. Given the combination of weak technical indicators and negative macro news, GOOGL is likely to sustain its downward trend in the near term.

The higher-than-expected unemployment claims could be interpreted as a sign of weakening in the labor market, potentially dampening risk appetite in the short term. Technically, the SPX closed below its 50-day moving average (7435), and the MACD is in negative territory and below its signal line. Although the RSI is neutral at 55, the price remaining above the 20-day moving average (7329) may limit the downside. However, the weakness in macroeconomic data increases the risk of the index retreating toward the 7300 support level. In the short term, it would be prudent to remain cautious and be prepared for potential selling pressure.

The higher-than-expected unemployment claims could be interpreted as a sign of weakening in the labor market, potentially dampening risk appetite in the short term. NDX closed below its 50-day moving average (29530), which may now act as resistance. While the RSI at 58.8 remains in neutral territory, the MACD line is below the signal line and in negative territory, indicating weakening momentum. The 0.35% decline over the past 24 hours could deepen further due to the news impact. However, the 20-day SMA (28863) provides nearby support, suggesting the downside may be limited.