Tech-Heavy Nasdaq 100 Defies Market Weakness to Seal Record Close

In a striking display of divergence, the Nasdaq 100 index powered to a fresh all-time high on Friday, closing with a gain of 99.63 points, or 0.42%, to finish the session at 24,092.19. This advance occurred against a backdrop of broader market weakness, with both the Dow Jones and the S&P 500 posting losses for the day. The tech-centric index?s resilience was largely fueled by a powerful surge in heavyweight constituent Tesla, marking a notable outperformance amid rising bond yields and deteriorating consumer sentiment.

The trading session revealed a market of two tales. While the Nasdaq 100 not only closed at a record but also hit a new intraday peak of 24,137.06, the broader market faced significant pressure. The day’s negative market breadth, where... Read more...