Publication date: May 22, 2025

It is Thursday, May 22. The AEX is at 926 in the morning session. That is 2 points (0.2%) higher than last week's reading.

What happened on the AEX in the past week?

Following a turbulent period, this week sees a pause in the trade war, and no macroeconomic data has been released that would create significant disruptions in the financial markets. The AEX opened the trading week on Monday at 927 and has continued to move relatively sideways. The low was 922, and the week's high for now is 933.

What does this mean for sentiment on the AEX?

Sentiment on the AEX is calm and positive. After the great uncertainty from the beginning of April, the feeling of relief currently prevails.

What is the outlook on the AEX?

Vision is unchanged from last week. In the most likely scenario, the AEX rises after a slight correction to the 950 level. From that level follows a larger correction to around 895 - 890, to then continue the upward trend to our price target of 1,050. For the short term, we can expect a short-term decline to around 910 and then finish this first move up at 950.

Above is the chart of the AEX from February. The arrows indicate the most likely scenario for the next few months.

What happened on the Nasdaq over the past week?

The Nasdaq futures are at 21,200 on Thursday morning, May 22, which is 150 points (0.7%) lower than last week's reading.

The Nasdaq futures have also experienced a quiet sideways trend over the past week. The Nasdaq opened Monday at 20,310 and has moved between 21,560 and 21,070.

What is the outlook for the Nasdaq future?

What is true for the AEX also applies to the Nasdaq. The view is unchanged. In short, the most likely scenario is that the Nasdaq futures can move smoothly to the 22,400 mark after a slight correction. From there, the larger correction is expected to reach around 20,600 before continuing to rise to the preliminary price target of at least 24,000. For the longer term, we can certainly not exclude a higher target.

Below is the chart of the Nasdaq futures from January with the most likely scenario.

What happened on the Dow Jones Industrial Average (DJIA) Index this past week?

The DJIA is currently trading at 41,940 points, which is 90 points (0.2%) higher than last week's reading.

This week, the DJIA opened higher at 42,450 and immediately pushed through to the high at 42,965. As of Tuesday, the DJIA is again down slightly. The low is at 41,850.

What is the outlook for the Dow Jones Industrial Average Index?

From the current level, there is room for a further decline to around 41,200. Then up to 43,000. The price target remains 48,000.

Below is the chart of the DJIA futures from January 2025 with the most likely scenario plotted.

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Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.