QQQ is up 18% YTD! Nasdaq 100 Enters Bull Market?
March 30 U.S. stocks ended the day on an upward trend, $S&P 500 Index (.SPX.US)$ is two consecutive trading days to set a new high in the last three weeks.
Investors generally believe: the worst of the banking crisis may be over, the market will continue to show optimism.
The $NASDAQ 100 Index (.NDX.US)$ index has risen 20% from its low in December last year, entering a technical bull market. The index includes the 100 largest non-financial companies listed on the Nasdaq Stock Exchange.
Meanwhile, the Nasdaq rose 17.5% in the first quarter of this year, the second-best quarter of the past decade, behind the 30% gain in the second quarter of 2020.
The ETF $Invesco QQQ Trust (QQQ.US)$ , which is a perfect replica of the Nasdaq 100 index, has also returned to the bull market boundaries, climbing more than 20% from its October 2022 low to date, breaking the bear market that began last February. It has risen 18% so far this year, the highest level since August 2022.
The $SPDR S&P 500 ETF (SPY.US)$has only risen 5% so far this year, far worse than QQQ's performance.
Investors are betting that the Fed will suspend interest rate hikes, and most technology stocks are up!
Some experts believe that people are worried about a recession due to a large number of bank failures, combined with a weak housing economy.
Such negative market sentiment will force the Fed to accelerate the end of the interest rate hike cycle. If the U.S. bond yield decreases, it will improve the attractiveness of technology stocks to investors, boosting the rebound momentum of technology stocks!
$Invesco QQQ Trust (QQQ.US)$ contains the market's hottest tech giants, all performing well so far this year: $Apple (AAPL.US)$ up 25.15% this year, $Microsoft (MSFT.US)$ up 18.74% this year, $Alphabet-A (GOOGL.US)$ up 14.35% this year, $Amazon (AMZN.US)$up 21.43% this year, $Tesla (TSLA.US)$ up 58.53% this year!![]()
The $PHLX Semiconductor Index (.SOX.US)$, which represents the chip market, has rebounded sharply this year, gaining more than 24% cumulatively, far outperforming the broader market.
Among the chip constituents, the QQQ's fourth largest position in $NVIDIA (NVDA.US)$ has risen over 80% this year, $Advanced Micro Devices (AMD.US)$ and $Lattice Semiconductor (LSCC.US)$ have accumulated over 40%, and $Micron Technology (MU.US)$, $ $Taiwan Semiconductor (TSM.US)$and $ASML Holding (ASML.US)$have all risen over 20%.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Gilley : cant even afford food how can the market think its good inflation is stagnate
Gilley : but keep raise rates only will hurt everything in the long run hope we can get food housing cars and everything else at least 25 percent cheaper soon taking to much taxes and charging way to much for everything
Cantilion Gilley : Totally understand all your situations.... it's really tough having such a life.
DragonTrade : Market will not be bull as fed is still increasing interest rates
Wait till Trump be president again then the bulls will be back