Nasdaq 100 Index

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Aug 012023

NDX: Nasdaq Ticks Up in July’s Final Session to Log Best Start of Year Since 1975

The tech-heavy index booked a 7-month gain of a whopping 37.1%, blowing past peers S&P 500 and Dow.

  • Another month, another lofty gain for the Nasdaq Composite. Wall Street’s technology index added just over 4% in July, bringing its seven-month performance since the start of the year to a hulking 37% advance. Stats check: it’s the benchmark’s best first seven months of a year since 1975.
  • The other two indexing heavyweights are also deep in green but not that much. The S&P 500 scored a 3.1% increase in July and is sitting on year-to-date gains of roughly 20% while its companies are churning out a pretty impressive earnings season. The Dow was up about 3% in July and slightly more than 7% for the year so far.
  • Down the week, the markets will be looking out for fresh US jobs data. The nonfarm payrolls report is coming Friday and is expected to show the pace of hiring among Americans cooled to 200,000 in July, down from 209,000 in the month prior.
Illustration by TradingView
Jul 262023

NDX: Nasdaq Climbs 0.6% as Big Tech Earnings Light Up, Fed Decision Imminent

Stocks keep extending the rally while investors are putting recession fears in the rearview mirror.

  • The Nasdaq Composite gained just over 85 points, or 0.6%, on Tuesday as money managers refreshed their optimism over the ongoing big tech updates. Corporate earnings from America’s biggest corporations are already rolling in but can investors say with certainty the worst is now behind?
  • There’s no doubt about the lofty stock valuations, including Nvidia’s newly-achieved $1tn market cap or Apple’s fresh all-time high over $3tn. In that context, the Federal Reserve’s aggressive rate hike campaign, analysts say, could cast a shadow over the bright prospects for equity markets.
  • The Fed meets today for its regular policy update in which the central bank is expected to lift interest rates by another 0.25% to 5.50%. Fed Chair Jay Powell will hold a press conference after the rate decision – the event usually stirs more volatile asset classes like currencies and commodities.
Jul 212023

NDX: Nasdaq Drops 2% as Tech Stocks Roll Into a Jittery Earnings Season

Tesla, Netflix, and other big tech names dragged the index to its biggest one-day drop in 4 months. The Dow notched a 0.5% gain.

  • Technology giants are off to a disappointing start of the earnings season. Tesla shares (ticker: TSLA) nosedived roughly 10% on Thursday, while Netflix stock (ticker: NFLX) erased 8.4% of its valuation after a lackluster earnings report failed to spark investor excitement.
  • The tech-heavy Nasdaq couldn’t resist the selloff pressure and plunged 2% on the day for its worst single-day performance in four months. The galvanizing rally in big tech this year has outperformed every other sector in traditional markets. The earnings season continues next week with Meta, Amazon, Microsoft, and Alphabet.
  • Real-economy stocks churned out a winning Thursday session. The Dow Jones Industrial Average extended its superior performance, notching a ninth straight day of gains. The broad-based S&P 500 index lost a modest 0.1% as tech stocks didn’t spare that one, too.
Pedro Forester Da Silva / Unsplash
Jul 182023

NDX: Nasdaq Charges Higher by 1% as Investors Eye Big Tech Earnings

Artificial intelligence may not be that present in Q2 financials, but boy do investors hope to see it in the guidance.

  • The Nasdaq Composite added 0.93% to start the trading week as investors begun to shift their focus on the looming second-quarter earnings figures from big tech companies. Wall Street’s tech-heavy index is up nearly 35% since the start of the year, outpacing its two peers the S&P 500 and the Dow Jones Industrial Average.
  • The impressive tech sector performance is fueled by lofty expectations from investors. With the earnings season already in full swing, the market will be eyeing not if, but to what extent artificial intelligence will dominate these firms’ forward-looking guidance.
  • |Generative AI may not have boosted Q2 figures, but it may very well expand this quarter’s product offerings and available target markets. This week’s earnings bonanza will be dominated by Tesla and Netflix – both Wall Street favorites are on tap to deliver quarterly data on Wednesday.
Giggel / Wikipedia
Jul 122023

NDX: Nasdaq Leaps 0.5% as Traders’ Attention Shifts to Imminent Inflation Reading

It’s Inflation Day and investors are hyped to see another drop in consumer price growth, fueling demand for stocks.

  • The Nasdaq Composite eked out a small 0.5% gain on Tuesday as all eyes stayed fixed and all hopes stayed pinned on a highly upbeat inflation consensus. For June, Wall Street, Main Street, (and you?) expect to see that inflation eased to a cool 3.1% year-over-year, down from 4.0% in May.
  • Investors have reasons to be hyped to see such a relatively low number. If hit, it will likely strengthen the Federal Reserve’s intentions to cool off its aggressive rate campaign. The US central bank, led by Jay Powell, convenes July 26-27 to decide whether to hike once more.
  • Back to the present, all three stock averages logged gains on Tuesday. The blue-chip Dow Jones Industrial Average added just under 1%, while the S&P 500 notched a moderate 0.7% advance. Shares of technology companies led the move higher.
Illustration by TradingView
Jul 032023

NDX: Nasdaq Stages Whopping 32% Gain to Log Best First Half in 40 Years

The tech-heavy index pulled off an incredible rally despite Fed tightening. Investors should thank generative AI.

  • The Nasdaq Composite recorded a monster 32% gain for the first six months of 2023. The blowout returns were riding on elevated investor appetite for growth-oriented companies betting on the latest hype to fuel expansion and bring in bumper revenue – generative artificial intelligence.
  • The tech-dense stock index reminisced about the good old days from the early 1980s. Such lofty first-half-of-year gains in the Nasdaq Composite were last seen in 1983. It’s even more impressive when you stack the figures against the Fed’s most aggressive rate-hike campaign in decades.
  • Quick lookback: investors powered through three rate hikes out of four Fed meetings. Regional banks collapsed, sending shockwaves across the banking industry. Debt ceiling woes weighed on market sentiment for weeks. Tech stocks truly defied gravity this time.
Ussama Azam / Unsplash
Jun 292023

NDX: Nasdaq Ekes Out Tiny 0.3% Advance on Apple, Tesla Gains

The tech-loaded index stretched into another winning session, while the S&P 500 was dragged lower by Nvidia’s drop.

  • The Nasdaq Composite advanced 0.3% on Wednesday, buoyed by slim gains in tech shares. Apple stock (ticker: AAPL) rose a modest 0.6% to close at a new all-time high of $189.25. Tesla shares (ticker: TSLA) sprinted 2.4% on second-quarter deliveries numbers slated for the weekend.
  • The gains for the tech-heavy stock gauge lifted its year-to-date performance to just under 30% at 13,591.75 points. The figure is a tad below the Nasdaq’s 2023 peak of 13,782.82, or a 32.69% upside for the year. All things considered, the surge blows past the S&P 500’s 15% return, and the Dow Jones’s 2% gain for the period.
  • The Nasdaq Composite’s two peer indexes slipped on Wednesday. The S&P 500 gave up less than 0.1% as Nvidia (ticker: NVDA) dragged the 500-strong pack on news that the Biden administration is considering fresh restrictions on AI chip exports to China. The Dow Jones declined 0.2% on the day.
Author / Unsplash
Jun 192023

NDX: Nasdaq Logs Eighth Straight Weekly Gain as AI Hype Buoys Tech Stocks

Wall Street’s tech-loaded index is on a tear unseen since early 2019, gaining more than 30% for the year.

  • The Nasdaq Composite is coming off its eighth consecutive weekly gain with investors pumped to enter the holiday-shortened trading week. With markets closed for Juneteenth today, the tech-focused benchmark continues to rely on AI stocks for another week of wins.
  • The three major stock indexes closed Friday to the downside, but still performed in the green for the week. The Federal Reserve’s decision to pause interest rate hikes, for now at least, boosted the bullish sentiment across the board. The momentum was supported by the recent positive consumer spending data.
  • At first glance, the markets look like they’re going off the hook. The rally, however, is running on a few very select stocks. Strip them out, and you’re left with mediocre returns. The big tech stocks, including Apple, Microsoft, Alphabet, and Tesla, are where the gains are concentrated.
Illustration by TradingView
Jun 142023

NDX: Nasdaq Climbs 0.8% on Inflation Slowdown, Looming Fed Decision

Wall Street is breaking to new highs for the year, riding on lowering inflation and hopes for a Fed pause.

  • The Nasdaq Composite eked out a modest 0.8% gain to wrap up Tuesday’s regular session. The credit goes to the pace of US inflation – consumer prices eased to their lowest level in more than two years at 4% for May, surpassing consensus for 4.1%.
  • The inflation report fueled hopes that the Federal Reserve will most likely keep interest rates unchanged at 5% to 5.25%. Fed officials are gathering today to decide exactly that, and Fed boss Jay Powell will appear for a press conference to lay out how the central bank sees the way forward.
  • The S&P 500 and the Dow Jones followed the tech-heavy Nasdaq with their own 0.7% gain and 0.4% advance, respectively. The S&P 500 pushed deeper into bull market territory, powered higher by individual tech stocks like Tesla, which added 3.5%, notching its 13th straight day of wins.
Kerrbenj / Wikimedia Commons
Jun 072023

NDX: Nasdaq Gains Just 0.3% to Close at New High for 2023

The tech-composed index treaded water as mixed economic data paints a blurry picture for the Fed’s next meeting.

  • The Nasdaq Composite (NDX) snatched a winning session on Tuesday, gaining a mere 50 points, or 0.3%, on the day. Subdued trading unfurled across the spectrum with its two peers – the Dow Jones and the S&P 500 – also closing in the green after moderate advances.
  • The tiny gain for the tech-dense index was enough to propel it to a fresh 2023 high of 13,276.42 points. Still, it was mostly big software stocks that powered the single-day mini rally. So far into the year, the Nasdaq Composite has added more than 27% to its valuation, far more than its two peers.
  • The Federal Reserve’s monetary policy meeting, slated for next Wednesday, will reveal whether the central bank will hike rates once again. With recent economic data coming in hot and cold, investors seem unwilling to bet that the Fed will skip the rate pump this time.
Illustration by TradingView
Jun 022023

NDX: Nasdaq Pops 1% Just Before Debt Ceiling Deal Gets the Greenlight

It’s a wrap! After lawmakers in the upper chamber cast their vote, the legislation is now headed to President Biden’s desk.

  • The Nasdaq Composite (NDX)kicked off June with a bang. The tech-heavy index gained 1.3% on the first trading day as tech stocks rallied on hopes that US policymakers will strike a deal to lift the nation’s borrowing limit beyond its current ceiling of $31.4tn. Turns out, these hopes were justified.
  • After a weekslong standoff in Congress, and a day after the bill passed the House, the Senate voted in favor of the legislation, avoiding an unprecedented default. The fiscal deal is now headed to President Biden’s desk for his sign off. No surprises there – the go ahead will be given.
  • While the Nasdaq led the way, the other two benchmarks also notched lofty gains. The S&P 500 added 1%, while the blue-chip Dow Jones advanced by 0.5% on the day. The next big test – it’s Jobs Day today and the US will report its nonfarm payrolls for the previous month.
Bfishadow / Wikimedia Commons
May 302023

NDX: Nasdaq Set to Extend Winning Streak on Debt Ceiling Hopes, Futures Rise 0.5%

The tech-heavy index is looking to open in the green on the heels of five straight weeks of AI-fueled gains.

  • Futures contracts tied to the Nasdaq Composite rose in thin trading on Tuesday, following the long Memorial Day weekend. The implied gains prior to the opening bell are poised to lift the tech-heavy index after five consecutive weeks of advance thanks to bombastic AI-fueled guidance from chipmakers and cloud firms.
  • Risk of a US government debt default are somewhat in the rearview mirror following days of negotiations leading up to a fruitful weekend. An agreement between Democrats and Republicans sparked hopes that the debt ceiling will get its needed lift, allowing the Treasury to borrow money so it could pay its bills.
  • It’s not only the Nasdaq that is soaking up the enthusiasm. Both the tech-dense benchmark and the broad-based S&P 500 are soaring at a 9-month high. Technically, however, the House is expected to vote on the bill this Wednesday and it will need the support of both parties to pass.
Illustration by TradingView
May 222023

NDX: Nasdaq Logs Fourth Straight Week of Gains but Futures Wobble

Debt ceiling talks are once again in the spotlight as concerns mount over the reaching of a deal before the June 1 deadline.

  • The Nasdaq Composite (NDX) fell modestly on Friday but managed to whip up another week of gains, lining it up to the previous three weeks. An optimistic start of Friday’s session ended with losses among the three main US indexes as a negotiation round over the debt ceiling issue came to a screeching halt.
  • Republican lawmakers insisted on Friday a deal should be made largely on their terms. Not witnessing excitement on the other side of the aisle in Congress, they walked out of negotiations, prompting President Biden to say over the weekend he won’t support a deal that favors the Republican party.
  • Lack of guidance over the matter pushed stock futures to the downside on Monday. Futures contracts tied to the tech-dense Nasdaq Composite edged lower by some 0.2%, while futures on the Dow Jones and the S&P 500 ticked south by 0.15% and 0.1%, respectively.
Giggel / Wikimedia Commons
May 152023

NDX: Stocks Tumble as Outlook Turns Gloomy, Nasdaq Futures Drop

The S&P 500 and the Dow Jones logged a second straight weekly loss despite data showing the US economy is cooling.

  • It’s another one of those days on Wall Street where the market sentiment shifts so fast it can make your head spin. Casting a pall over the bright future this time is the approaching US debt ceiling and rekindled banking tremors, threatening to throw a spanner in the works.
  • In this context, futures contracts tied to the Nasdaq Composite were looking red ahead of the opening bell. Over the past week, downbeat investor confidence pressured the Dow Jones and the S&P 500, pushing them into losing territory for a second straight week.
  • Reassuring data on inflation has largely convinced investors that the Fed will wrap up its most aggressive rate hike campaign in a generation. Banking tremors are now denting market optimism, coupled with the standoff in Congress over the lifting of the US debt ceiling.
Chris Li / Unsplash
May 092023

NDX: Nasdaq Ekes Out Tiny Gain but Logs 20% Long-Term Rise to Exit Bear Market

Stocks wavered on Monday, but the tech-heavy index was able to exit its bear market by a mere 20-point gain.

  • The Nasdaq Composite ended Monday on an optimistic note, notching a tiny gain of 21.5 points, or 0.18%. The small feat, however, was just about enough to get the index out of bear territory. Generally, a 20% drop is considered slumping into a bear market. In reverse, a 20% rise means no more bears in sight.
  • Now, the Nasdaq is up 20.01% from its December 28 closing low as tech stocks have been on a tear this year. The last time Wall Street’s technology gauge exited a bear market was on August 10. Five days later, however, the index again slipped into the red and dropped 20% by October 11.
  • Broadly, equities in the US floated fairly unchanged to kick off the week. More fears around potential failures of regional banks settled after last week’s rally. What’s more, inflation data is looming. Investors expect the US consumer price index for April to show price pressures stayed elevated at an annual rate of 5.0%.
May 042023

NDX: Nasdaq Drops as Fed’s Powell Says No Rate Cuts Are Planned for 2023

Stocks lost their edge after Jay Powell lifted rates with another 25 bps and vowed to halt hikes for now.

  • The Nasdaq Composite ticked lower by 0.5% after the Federal Reserve announced another moderate rate hike of 25 bps. The tech-heavy index’s peers also finished the day lower – the Dow lost 0.8% while the S&P 500 tumbled 0.7%. What are some of the key takeaways from Fed Day?
  • Fed Chairman Jay Powell warned that the central bank is prepared to do more (think more rate bumps) in case inflation remains stubborn. The good news for the markets – no more interest rate increases are planned for 2023. The not so good news – no rate cuts are on the menu, either.
  • While the rate lift was largely baked into the performance of asset classes, market participants were hoping to hear about at least a couple of rate cuts by the end of the year. With no such good fortune to befall markets, liquidity is bound to be tight and the fallout in the banking sector more likely to spill further.
Apr 242023

NDX: Nasdaq Futures Lower After 0.4% Weekly Loss

The tech-heavy index doesn’t look too brightened up to start the week of Big Tech’s earnings drop.

  • Futures contracts tied to the Nasdaq fell ahead of the opening bell as the most important earnings week for the geeks commences. We’re talking Microsoft, Google parent Alphabet, Amazon, and Facebook owner Meta Platforms. Where’s Apple? Apple pushed back its earnings report to May 4.
  • Still, the Nasdaq Composite couldn’t entice investors enough last week, resulting in a weekly loss of 0.4%. With such a powerful lineup of technology heavyweights, however, volatility could snap back and get the index moving as easy as apple pie (sorry, but no apple this time).
  • The Nasdaq’s two peers, the Dow and the S&P 500 are more or less vibing at the same lukewarm frequency in the early hours ahead of regular trading. Lackluster earnings results from EV maker Tesla and telecom giant AT&T last week kept a lid on broad-based optimism.
giggel / Wikimedia Commons
Apr 182023

NDX: Nasdaq Futures Flat After Modest 0.3% Gain

Companies from Wall Street’s tech-laden benchmark are lining up to report financial figures this week.

  • The Nasdaq Composite is off to a positive start of the week. The 100-strong tech-powered index finished Monday’s dealmaking higher by 0.3%. Its performance was pretty much in line with its two sidekicks the Dow Jones and the S&P 500. Futures, however, wavered and hugged the flatline.
  • The earnings season is just about to hit full steam with all the majors lined up to report their financial performance in the first quarter. More precisely, Netflix is gearing up to offload Q1 earnings after the closing bell today. Tesla is on deck to report Wednesday, again after the bell.
  • The Nasdaq has kept its bull-market valuation so far throughout the month. Market participants remain optimistic that real profits will top analyst estimates this reporting season. The broad picture is that there’s a low bar to match falling earnings. But what do investors need, besides better-than-expected earnings?
bfishadow / Wikimedia Commons
Apr 132023

NDX: Nasdaq Tumbles on ‘Mild Recession’ Fears

The tech-dense index lost 0.85% after Fed minutes sparked worries over imminent economic jitters.

  • The Nasdaq Composite retreated by 100 points, or 0.85%, on Wednesday. The drop was prompted by investors getting cold feet over the minutes of the Fed’s March monetary policy meeting. In those, Federal Reserve staffers predict that a “mild recession” might sweep over the US.
  • Note it says staffers, and not the actual Jerome Powell clique, which is a total of seven Federal Reserve officials, comprising the Board of Governors. In that light, the Fed staff was not named in the minutes from the March 21-22 meeting when the central bank hiked rates amid a banking crisis.
  • Regardless, equity shares across the board were looking up in after-hours trading before Thursday’s opening bell. Market participants seem optimistic to dive back into the risky assets as they anticipate the kickoff of the earnings season, which will shed light on America’s Q1 corporate growth.
Simone Fontana / Flickr
Apr 032023

NDX: Nasdaq Enters Bull Market Amid Banking Crisis

The tech-heavy index is up more than 20% since its December 28 low as banks wobbled. What’s going on?

  • Tech stocks buoyed the Nasdaq Composite to a 21.9% gain since the index’s low on Dec. 28. The double-digit rise meets the technical definition of a bull market, which starts with a 20% upside after a bear-market low. For the quarter, the tech-heavy stock average advanced 16.8%.
  • It was the Nasdaq’s strongest quarter since the one ended June 2020. Why now, you might wonder, amid all the heat on the banking sector? One explanation is that investors are betting on tech stocks, hoping that banking jitters will not spill over to other corners of the market.
  • Take for example the Dow Jones. A fifth of its 30 holdings are in financials. With this in mind, the Dow Jones added a mere 0.4% to its valuation in the quarter. As tech stocks rallied, the divergence between the Nasdaq and the Dow was the widest since 2001.
Jared Schwitzke / Unsplash