Why is the Nasdaq today under pressure?

Investors are re-pricing growth as AI tools could reduce software seats, pricing power, and even entire product categories. At the same time, Big Tech is raising AI capex, which supports moats but can trim near-term free cash flow. That mix has pushed rotation to value, narrowed market breadth, and increased intraday swings across the Nasdaq-100.

How does Alphabet’s capex plan affect its stock and the Nasdaq-100?

Heavier 2026 capex can lift long-run competitiveness in Search and Cloud but may weigh on free cash flow near term. For the index, Alphabet’s updates often move sentiment due to its large weight. Investors will look for concrete ROI, Cloud margins, and a clear payout or buyback path to offset higher investment.

What Nasdaq-100 levels matter most this week?

Watch the 50-day average near 25,372 and the Bollinger middle band around 25,393 as first supports. Resistance sits near 25,947 and the prior close at 25,884. If 25,372 breaks decisively on volume, momentum can tilt lower toward the lower bands, while a strong reclaim of 25,947 improves the risk-reward for tactical longs.

How should Australian investors manage currency risk on US tech exposure?

Choose between unhedged USD exposure, which adds AUD/USD moves to returns, or AUD-hedged funds that isolate equity performance. If you expect a stronger Aussie dollar, hedging can help. If you expect a weaker Aussie dollar, unhedged exposure can cushion equity drawdowns. Match the choice to your time horizon and risk tolerance.

Global Market Insights

^NDX Today: AI Jitters, Alphabet Capex Whipsaw Nasdaq — February 6

ByHuzaifa Zahoor February 6, 2026February 6, 2026

Nasdaq today is under pressure as AI disruption fears hit software and mega-cap tech, while Alphabet’s larger-than-expected 2026 capex plans rattle mood. The Nasdaq-100 recently traded near 25,552, down about 1.28%, with traders rotating into value and defensives. For Australian investors, the mix of Big Tech earnings and rising AI spending points to choppy sessions and wider intraday ranges. We outline the catalysts driving Nasdaq today, key technical levels to watch, and a clear playbook for positioning from Australia in USD or AUD-hedged exposures.