Summary

• Nasdaq 100 remains in a bullish structure despite short-term volatility driven by US-Iran geopolitical tensions and profit-taking, with price action stabilising above key support at 28,280.
• Market sentiment was briefly pressured by conflict-related headlines, but losses were largely recovered as ceasefire stability expectations improved and risk appetite returned.
• Market breadth is healthy but not euphoric, with broad participation across components and technical indicators supporting near-term upside continuation.

By Kelvin Wong

The US stock market saw profit-taking on Thursday, May 7, 2026, as traders grew increasingly concerned over the fragility of the month-long US-Iran ceasefire after both sides exchanged fire.

Market sentiment

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