Publication date: May 13, 2026
AEX
The AEX was quoted at 1,007 points in the opening session on Wednesday, May 13.That is down 21 points, or 2.05% from last week.
Market development
As expected, the AEX corrected in the past week. Last Thursday, the index reached a record 1,036 points, partly due to positive news about the conflict between the U.S. and Iran. In addition, meanwhile, 75% of S&P 500 companies reported better than expectations.
On Monday, the AEX opened slightly lower at 1,018 points. On Tuesday, the US consumer price index for April was released. This inflation gauge rose more than expected last month, bringing the US annual inflation rate to 3.8% at present. Equity markets reacted negatively. The AEX fell the same day to its provisional lowest point of the week of 998.
Sentiment
Short-term sentiment has deteriorated. The abundance of good news has been largely reflected in share prices. Investors are now mainly looking forward to Nvidia's figures in the coming week. At the same time, there remains much uncertainty about the price trend in the coming months, partly due to increased inflation and the ongoing uncertainty surrounding the conflict between the U.S. and Iran.
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Forecast
For the coming weeks, a correction towards the zone of 980 to 985 points remains the most likely scenario. In the longer term, the positive scenario remains intact. Our model expects another upward movement toward a price target of 1,080 points within twelve months.
A close below 920 points invalidates this scenario and shifts the technical picture to neutral to negative. As long as this level holds, the long-term perspective remains constructive.
The chart above shows the AEX as of mid-2025, including the expected price trend.
Nasdaq futures
The Nasdaq future is trading at 29,315 points on Wednesday morning, May 13. That is up 595 points, or 2.05% from last week.
Market Development
The Nasdaq futures reached another record high in the past week. A level of 29,480 points was reached on Monday. With this, the Nasdaq futures continued to perform exceptionally strongly and the index quickly moved toward our previously set 12-month price target of 30,000 points.
The tech sector continues to outperform expectations. In particular, continued strength within large technology stocks supports the longer-term positive picture.
Sentiment
Sentiment around technology remains strong, but the speed of the recent rise raises the possibility of an intermediate-term correction. After the sharp upward movement of the recent period, it is plausible that investors will take profits and the market will first look for a new support level.
Forecast
According to our model, the Nasdaq futures may correct from the current level towards 26,500 points. After this correction, the long-term upward trend can resume towards the price target of around 30,000 points.
The chart below shows Nasdaq futures as of mid-2025, including the expected scenario.
Dow Jones Industrial Average
The Dow Jones futures are currently trading at 49,850 points. That is down 200 points, or 0.4% from last week.
Market development
The Dow Jones futures continue to show a strong price pattern. Over the past week, the future corrected slightly from last week's top at 50,214 points.
The underlying trend thus remains positive, despite the limited decline in recent days. For now, the correction remains contained and fits within a broader upward market structure.
Sentiment
Underlying sentiment around the Dow Jones futures remains strong. However, after the strong rise of the past period, there is also room here for further cooling. A temporary pullback would not immediately weaken the technical picture, as long as key support levels remain intact.
Forecast
In the short term, the Dow Jones futures may start a correction towards 48,200 points.
This level can then act as the basis for a new upward move toward the adjusted long-term price target of around 55,000 points. The chart below shows the Dow Jones futures as of mid-2025, including the expected price trend.
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