Nasdaq 100 Stalls as Bond Yields and Economic Data Weigh on Sentiment

A subdued mood greeted Wall Street following the extended Thanksgiving holiday, casting a shadow over the technology-heavy Nasdaq 100. The index concluded the session 0.3% lower, settling at 23,242 points. Investor sentiment was dampened by a confluence of factors: climbing bond yields, disappointing economic indicators, and mounting apprehension ahead of forthcoming Federal Reserve policy decisions. While select giants like Nvidia and Apple demonstrated resilience, steep declines in names such as Moderna and Coinbase fueled debate over whether this marks the start of a broader pullback or merely a pause for breath after a powerful November rally.

The trading session opened on shaky ground. A key driver was the ascent of the 10-year U.S. Treasury yield toward 4.10%, a move partly triggered by unexpectedly hawkish commentary from the Bank of Japan. This rise in borrowing costs is particularly punitive for growth-oriented technology stocks, whose valuations are highly sensitive to interest rate movements. Concurrently, the CBOE Volatility Index (VIX), often called the market's "fear gauge," climbed approximately 5% to 17.20, signaling a clear uptick in investor anxiety.

Further pressure emerged from the latest Institute for Supply Management (ISM) manufacturing survey, which fell below the critical 50-point threshold that separates expansion from contraction. Concerns surrounding tariffs and persistent supply chain issues appear to be weighing on industrial activity. Trading volumes remained below average—a typical post-holiday pattern but also an indication that buyers lacked conviction.

A Market Divided: Standouts and Laggards

Beneath the index's modest decline, a stark divergence in individual stock performance was evident.

Should investors sell immediately? Or is it worth buying NASDAQ 100?

Notable Gainers:
* Synopsys surged 5.0% following news of an expanded collaboration with Nvidia. The partnership aims to accelerate chip design processes using advanced AI agents.
* Nvidia itself advanced 1.7%, continuing to ride a wave of sustained investor enthusiasm focused on artificial intelligence infrastructure spending.
* Apple added 1.5%, with its shares attracting investors seeking relative safety in defensive, mega-capitalization stocks.

Significant Decliners:
* Moderna plummeted 7.0% after reports indicated the U.S. Food and Drug Administration (FDA) is planning stricter authorization guidelines for future vaccines, a development that could impact the company's product pipeline.
* Coinbase dropped 6.0%, dragged down by a broad cryptocurrency sell-off that saw Bitcoin fall below the $86,000 level.
* Meta Platforms retreated 1.1%, with its substantial weighting in the index exerting an outsized negative influence.

Technical Picture Shows Consolidation

From a chart perspective, the Nasdaq 100 is undergoing a period of consolidation following its robust November performance. The index is currently testing a key support level around 23,200 points. A decisive break below this zone could open the path toward the psychologically significant 23,000 mark, which also aligns closely with the 20-day moving average.

Immediate resistance persists near the recent all-time highs around 23,500. The Relative Strength Index (RSI) has retreated from overbought territory to a reading of 58, suggesting the short-term upward momentum has paused while the broader bullish trend remains intact. However, the market's inability to reclaim its intraday peak points to signs of near-term exhaustion among buyers.