Publication Date: July 30, 2026
AEX
On Thursday morning, July 30, the AEX stood at 1,098 points. That is 8 points, or 0.75%, higher than last week.
Market Developments
The AEX started the turbulent trading week calmly at 1,093 points. Investors were awaiting a large number of quarterly earnings reports from influential companies, signals regarding U.S. monetary policy, and new inflation figures from the United States.
At the same time, developments in the Middle East conflict unfolded at a rapid pace. This led to uncertainty and volatile price movements in the financial markets. On Monday, the AEX reached its highest weekly level so far of 1,099 points and its lowest weekly level of 1,081 points. Reports that China might be able to compete with ASML put the stock price of this AEX heavyweight under significant pressure. Later in the week, the index recovered. Currently, the AEX is trading just below its record high of 1,102 points.
Sentiment
Short-term sentiment in the stock markets remains uncertain but is gradually becoming slightly more positive.
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Outlook
According to our model, increased volatility will persist in the short term. From current levels, the AEX could first test the 1,080-point range in this volatile market. After that, a rise toward the short-term price target of 1,120 points comes into view.
In our base scenario, this will be followed by a correction toward the 1,030 to 1,050-point range. For the long term, the positive scenario remains intact. Following this correction, our model anticipates a new upward move toward the price target of 1,230 points.
The chart above shows the AEX starting in mid-2025, including the expected price movement.
Nasdaq futures
On Thursday morning, July 30, the Nasdaq futures were trading at 27,425 points. That is 1,175 points, or 4.1%, lower than last week.
Market Developments
The Nasdaq futures contract has been experiencing volatile price movements for several weeks and is currently in a correction phase following a strong upward trend. The futures contract started the week calmly at 28,500 points and reached its weekly high of 28,765 points that same day. On Wednesday evening, following the Fed’s interest rate decision and press conference, the Nasdaq futures fell to a provisional weekly low of 27,200 points. At the current level, the futures are 11.5% below the record high of 30,975 points.
Sentiment
Long-term sentiment toward the technology sector remains strong. In the short term, however, the sector is facing uncertainty.
Outlook
According to our model, price movements will remain volatile in the short term. The Nasdaq futures contract is currently in the previously indicated range where the correction is expected to bottom out. With uncertainty and volatility prevailing, a brief test of 26,500 points cannot be ruled out. This does not change our base scenario. Afterward, the price could recover and reach a new record high around 32,000 points. We then anticipate a new correction toward the zone around 25,000 points.
After this correction, the long-term uptrend may resume, bringing a price target of approximately 34,500 points into view.
The chart below shows the Nasdaq futures starting in mid-2025, including the expected price movement.
Dow Jones futures
The Dow Jones futures contract is currently trading at 51,835 points. That is 270 points, or 0.5%, lower than last week.
Market Developments
The Dow Jones futures also experienced increased volatility last week. The contract opened the week at 52,300 points and was still trading above 53,000 points on Tuesday and Wednesday. On Wednesday evening, the market perceived the Fed’s explanation of its interest rate policy as insufficiently clear. Subsequently, the futures contract fell to a provisional weekly low of 51,630 points.
Sentiment
The underlying sentiment surrounding the Dow Jones futures remains strong, but is uncertain in the short term.
Outlook
The price is currently at the previously indicated correction level. In the short term, a temporary test of the zone around 51,000 points cannot be ruled out. In our base scenario, the Dow Jones futures will then form a new high around 54,000 points.
This could be followed by a correction toward 50,000 points. This zone could then serve as a base for a new upward move toward the long-term price target of approximately 58,700 points.
The chart below shows the Dow Jones futures from mid-2025 onward, including the expected price trend.
Next week, we will not be publishing a weekly update on the AEX, Nasdaq, and Dow Jones. You can expect the next update on Thursday, August 13.
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In the market calendar, we cover the most important topics with commentary and our perspective. Read the market calendar for July 27 through July 31, 2026 here, and starting Friday afternoon, you can read the market calendar for the upcoming two weeks, August 3 through August 14, 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.