Tech Stocks Propel Nasdaq 100 to Unprecedented Heights

The Nasdaq 100 index surged to a fresh intraday record during Thursday’s session, fueled by robust investor enthusiasm and substantial trading activity. Market participation was notably high, with a volume of 19.30 billion shares traded, significantly exceeding the 20-session average of 16.67 billion. This elevated activity underscores the strong conviction driving the current upward trend.

Broad market participation complemented the rally, with advancing issues outnumbering decliners by a ratio of 2.5 to 1. The CBOE Volatility Index (VIX), often referred to as the market’s “fear gauge,” retreated by 0.13% to 15.70, further signaling a pronounced ‘risk-on’ appetite among market participants.

Technology giants were the primary engine behind the index’s powerful performance. The Technology Select Sector SPDR Fund (XLK) registered a solid gain... Read more...