Publication Date: July 24, 2026
AEX
On Friday, July 24, the AEX stood at 1,090 points during the morning session. That represents a decline of 5 points, or 0.45%, compared to last week.
Market developments
The AEX opened the trading week calmly at 1,091. Investors were awaiting the release of quarterly earnings reports from major companies, including Alphabet and Tesla, on Wednesday evening. Ahead of that, the AEX reached its highest level of the week on Wednesday, matching the record of 1,102 points.
The published quarterly results were generally positive but were not well received by the market, causing stock prices to take a significant step back. Underlying sentiment has turned slightly negative due to rising geopolitical tensions, rising interest rates, and sharply rising energy prices. As a result, on Friday morning, the AEX reached its lowest level of the week so far at 1,084 points.
Sentiment
Sentiment in the stock markets is uncertain and slightly negative in the short term. Despite positive macroeconomic data and slightly positive quarterly reports from companies, uncertainty about the situation in the Middle East conflict and its consequences prevails.
image_here
Outlook
Our model expects higher volatility to persist in the short term. According to our model, the AEX could test the 1,075-point range from current levels and then rise further toward the short-term price target of 1,120 points.
After that, a correction toward the 1,050–1,030-point range is the most likely scenario.
In the long term, the positive scenario remains intact. Our model expects a new upward move toward the price target of 1,230 points.
The chart above shows the AEX from the beginning of 2026, including the expected price movement.
Nasdaq futures
On Friday morning, July 24, the Nasdaq futures were trading at 28,600 points. That represents a decline of 1,440 points, or 4.8%, compared to last week.
Market developments
The Nasdaq futures contract is experiencing volatile times and is in a correction phase following the major upward move. It started the week on an uncertain note once again at 28,700. The price then rebounded to around 29,300 points but reached its lowest weekly level so far this week—28,465 points—on Friday. The Nasdaq once again faced selling pressure due to ongoing uncertainty about high valuations and heightened geopolitical tensions. At its current level, the Nasdaq futures contract is trading more than 7.5% below its record high of 30,975.
Sentiment
Long-term sentiment toward technology is strong. In the short term, the market is uncertain and slightly negative.
Outlook
Our model expects the volatile price pattern to continue in the short term. During the current correction, the Nasdaq futures contract may test the 27,500 level. Subsequently, our model expects the price to reach a new record high around 32,000 points. After that, a major correction will begin, and the price could fall to the range between 27,500 and 26,500 points.
After this correction, the long-term uptrend is likely to resume toward the new price target of at least approximately 34,500 points.
The chart below shows the Nasdaq futures from early 2026, including the expected scenario.
Dow Jones futures
The Dow Jones futures contract is currently trading at 52,105 points. That represents a decline of 690 points, or 1.3%, compared to last week.
Market developments
The Dow Jones futures opened the week steadily at 52,300 and reached a weekly high of 52,717 on Wednesday.
On Thursday, the Dow Jones futures also retreated, hitting a weekly low of 51,728. The price is correcting and is trading about 3% below its record high.
Sentiment
Sentiment surrounding the Dow Jones futures remains fundamentally strong, but is uncertain in the short term.
Outlook
In the short term, the most likely scenario is that the price will test the 51,500 level and then set a new high around 54,000 points.
After that, the price may begin a correction toward 50,500 points. This level could then serve as a base for a new upward move toward the new long-term price target of approximately 58,700 points.
The chart below shows the Dow Jones futures from the beginning of 2026, including the expected price movement.
Every Sunday morning, we publish the market calendar for the coming week. Would you like to receive the market calendar by email? You can sign up here.
In the market calendar, we cover the most important topics with commentary and our outlook. Read the market calendar for July 20 through July 24, 2026 here, and starting Friday afternoon you can read the market calendar for the week of July 27 through July 31, 2026 here.
Disclaimer: Investing involves risks. 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 intended for educational purposes only.