Nasdaq Sets New High While U.S. Markets Show Resilience

U.S. equity markets closed modestly higher despite fresh trade tensions, with the Nasdaq beating record levels. Tech stocks—particularly AI and software names—continued to lead. At the same time, Dow and S&P remained steady, reflecting a market acclimatized to tariff headlines and awaiting earnings catalysts.

The resiliency is emblematic: flashpoints like China-U.S. tensions have grown routine, even as synchronised policy support remains fragile. Investors appear to be maintaining exposure to long-term thematic trends—AI, cloud infrastructure, enterprise software—while stocking protective positions in cyclical sectors. Bond markets mirror this approach, remaining steady in the face of evolving supply-demand landscapes.

In essence, markets are treading water with conviction. Attention is now turning to upcoming economic prints and Q2 earnings. This calm before earnings storms underscores a core insight: record highs don’t indicate complacency—they expose opportunity. Strategic positioning in the face of event risk will define a market primed for selective upside.