E-mini Nasdaq 100 futures remained firm at 19,200 supported by biotech rally. Analysts foresee near-term resistance at 19,280, but sustainable gains may require broader participation beyond healthcare and semiconductor sectors. The Euro Stoxx 50 Index is up +1.03% this morning, extending a record-breaking rally. Technology stocks jumped on Thursday, tracking their U.S. peers higher. Sentiment was also boosted after South Korea’s Samsung Electronics and SK Hynix signed letters of intent to supply memory chips for OpenAI’s data centers. Also, pharmaceutical stocks extended their rally as the U.S.-Pfizer deal helped ease some uncertainty in the sector. In addition, automobile stocks climbed, led by a more than +7% surge in Stellantis NV (STLAP.FP) after it reported a 6.4% increase in Q3 U.S. sales. Meanwhile, data from Eurostat released on Thursday showed that the Eurozone’s unemployment rate unexpectedly rose in August, raising the likelihood that the European Central Bank will cut interest rates next year after a period of pauses. In other news, Italy’s main business lobby, Confindustria, on Thursday lowered its economic growth forecast for this year to 0.5% from 0.6%, citing the impact of U.S. tariffs and geopolitical tensions on exports. In corporate news, Ferrari NV (RACE.M.DX) gained over +2% after HSBC upgraded the stock to Buy from Hold. At the same time, Experian Plc (EXPN.LN) slumped over -5% after FICO announced the launch of a cost-cutting direct license program for mortgage lending, which would cut out the margin that companies like Experian earn on the FICO credit score itself. Technology and what Marex calls the “new economy” holdings that make up the Nasdaq-100, have evolved from being a niche part of the overall stock market to a major force. Marex says looking at the S&P 500 index, Nasdaq-100 companies represented about 10-15% of the index market cap throughout much of the 2000s. It has averaged closer to 50% in recent years. “The Nasdaq-100 is such a substantial part of the US equity market that you can almost think about it now as a core holding,” Marex says. A risk-off mood drove E-mini Nasdaq 100 futures down to 19,060, as geopolitical headlines spurred safe-haven flows into bonds. Volume analysis shows increased selling pressure, and breach of 19,000 could open downside targets near 18,900.