Publication Date: September 17, 2026

AEX

As of this writing on September 17, the AEX stands at 1,101 points, up 3 points from last week.

Market Trends

The AEX had a volatile week. After falling to 1,089 points on Tuesday, the index recovered to its current level of 1,102 points. This week, chip stocks were the main drivers of market movement. ASML, ASMI, and Besi fell by up to 5% due to concerns about a potential slowdown in the AI sector, while RELX and Wolters Kluwer rose by more than 4%.

On Tuesday and Wednesday, the index remained virtually flat as investors awaited the Federal Reserve’s interest rate decision. Following the 25-basis-point rate hike, the AEX rebounded on Thursday.

Sentiment

Short-term sentiment on the AEX remains mixed and uncertain.

Outlook

Our model first anticipates a pullback toward 1,080 points, followed by a temporary recovery to around 1,106 points. After that, another correction toward the 1,070 range may follow. Once a bottom is formed there, we expect the long-term uptrend to resume toward our price target of 1,230 points.

The chart above shows the AEX’s price movement since early 2026, including our expected scenario.

Nasdaq Futures

The Nasdaq futures contract was trading at 29,570 points on Thursday afternoon, up 435 points, or 1.5%, from last Thursday.

Market Trends

The Nasdaq futures had a volatile week. Concerns about a slowing AI sector put pressure on chip stocks, causing the futures to fall to 28,673 points on Wednesday following the Fed’s interest rate decision. On Thursday, a strong recovery followed, pushing the index toward 29,500 points, partly thanks to a decline in the U.S. 10-year yield and a rebound in technology and chip stocks.

Sentiment

Long-term sentiment toward technology remains positive, while the short-term outlook remains mixed.

Outlook

In the short term, our model still anticipates a further rise toward 30,000 points. After that, a correction toward approximately 27,000 to 26,800 points remains possible. For the longer term, we are sticking to our price target of 34,500 points.

The chart below shows the price movement of the Nasdaq futures contract starting in early 2026, including our expected scenario.

Dow Jones futures

On Thursday afternoon, the Dow Jones futures contract was trading at 51,770 points, down 549 points, or 1.0%, from last Thursday.

Market Trends

The Dow Jones futures contract traded primarily at the lower end of the previously indicated range this week. Rising oil prices, higher bond yields, and the Fed’s interest rate decision put pressure on the price. On Wednesday, the futures contract fell to 51,460 points, nearly matching our previously identified correction zone around 51,500 points. A recovery followed on Thursday, partly because investors reacted more positively to the Fed’s tone.

Sentiment

Underlying sentiment remains positive, although there is clearly some uncertainty in the short term.

Outlook

According to our model, the decline in the futures contract is expected to continue for a while longer. From the high of 54,881 points, our model anticipates a test of the 51,500 to 50,500-point range, possibly before the end of this year. Once this level is reached, it could serve as a foundation for a new upward move toward the long-term price target of approximately 58,700 points.

The chart below shows the price movement of the Dow Jones futures contract from the beginning of 2026, including our expected scenario.

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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.