NASDAQ Composite Index Heralds a Fine Time for Tech Stocks


In the ever-fluctuating landscape of financial markets, the NASDAQ exchange, home to some of the world's most prominent technology stocks, has been a bastion of volatility over the past two years. This week, the NASDAQ index continues its upward trajectory, reaching its highest point in five days, marking a notable shift in sentiment for the technology-focused venue.

Recent Performance: A 5-Day Surge and 30-Day Momentum

As of the close of the New York trading session yesterday, the NASDAQ index has demonstrated resilience and vigour. A closer look at the five-day moving average reveals a climb to the highest point in five days, showcasing the current bullish sentiment among investors. Over the course of the last month, the NASDAQ index has experienced an impressive gain of 12%, underlining the sustained positive momentum.

Tech Giants Lead the Charge

The NASDAQ exchange is renowned for hosting publicly listed US-based technology companies, commonly referred to as Silicon Valley giants. Notable names such as Apple, Amazon, Microsoft, and Alphabet have played a significant role in driving the index's performance. Despite the index's association with technology stocks, it's interesting to observe its recent resilience in the face of global economic challenges and, in particular, US-specific matters such as continued interest rate hikes, which significantly impact the cost of operating large businesses.

Minor Overnight Slump: A Temporary Setback?

While the NASDAQ has exhibited remarkable strength over the last 30 days, there have been inklings of a minor overnight slump. However, this setback has not significantly impacted the overall positive momentum that the index has sustained. Analysts are closely monitoring this development to gauge whether it signals a brief pause or the beginning of a more pronounced correction.

It's noteworthy to highlight the distinct difference in volatility between the NASDAQ and its more traditional peers, such as the New York Stock Exchange (NYSE) and the London Stock Exchange. While the NASDAQ has experienced fluctuations, its resilience stands out in contrast to the stability of more traditional exchanges.

End of Tech Stock Slumps: A Positive Outlook

The era of tech stock slumps that characterised the market a year ago appears to be over, at least for the moment. NASDAQ-listed stocks have reclaimed a positive outlook, reflecting renewed confidence in the technology sector. Investors seem to be recalibrating their expectations, focusing on the sector's growth potential rather than the uncertainties that prevailed in the recent past.

In conclusion, the NASDAQ exchange's recent performance underscores the resilience and strength of technology stocks on this global platform. Despite minor fluctuations and an overnight slump, the index has maintained an impressive upward trajectory over the last 30 days. The technology sector, represented by Silicon Valley's behemoths, continues to be a focal point for investors seeking growth and innovation in the ever-evolving landscape of global financial markets.

Trade global index CFDs with zero commission and tight spreads. Open your FXOpen account now or learn more about trading index CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Indices

Nasdaq-100 Price Hits All-time High after 4 Straight Months of Gains European Stock Markets on All-Time Roll Despite Economic Bleakness Nvidia's Successes Helps S&P 500 Price Reach Its All-time High S&P 500 Inches Down After Long Rally as FOMC Minutes Approach NASDAQ Price Declining Ahead of NVDA Report

Latest articles

Financial Market News

Weekly Market Wrap With Gary Thomson: CAC 40, AUD, OIL, AMAZON

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. European Stock Markets on


Price of Gold Briefly Exceeded $2,050 per Ounce

In addition to new records in the stock markets, the reaction to yesterday's news about inflation in the US was also a decrease in government bond yields and a rapid rise in the price of gold — the cost of XAU/


Nasdaq-100 Price Hits All-time High after 4 Straight Months of Gains

The Nasdaq-100 index is holding above 18,000 today following yesterday's bullish momentum, fueled by inflation news. The PCE consumer spending index amounted to 0.4% on a monthly basis, which was in line with analysts' expectations. A year ago,

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.