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US Tech 100 Rebounds from Support — Eyes 200 MA Breakout Toward 23,294 Resistance

NASDAQ was up on Wednesday morning after testing the low level of 22948 in the same trading session as investors weighed soft economic data, renewed trade tensions, and mixed earnings results. Fears of stagflation resurfaced after the ISM Services Index showed activity stalled in July. Meanwhile, President Trump threatened to impose tariffs of up to 250% on pharmaceutical imports, as well as potential levies on semiconductors.