Big Tech Leads the Market’s Recovery, NASDAQ Turns Positive

Big Tech Leads the Market’s Recovery, NASDAQ Turns Positive

$DIA $SPY $QQQ $RUTX $VXX

Big Tech stocks turn higher on the year and an ETF that tracks the biggest among them has grew to a $100-B market value.

None of the economic damage wrought by the C-19 coronavirus chaos has kept investors from investing in companies that stand out for their strong balance sheets and ability to make profits in this unprecedented stay-at-home world. Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN) are each worth more than $1-T.

In tech stocks, the Invesco QQQ Trust Series 1, which tracks the NAS-100 Index, closed with a market value of more than $100-B for the 1st time since it began trading in Y 1999.

Investors recognize that the constituents of QQQ’s benchmark, the NAS 100, are well positioned to capitalize on the current shift to digital working and learning, potential advancements in biotech and healthcare along with a number of transformative, long-term themes in the marketplace

Solid first-quarter earnings from Google parent Alphabet Inc., Facebook, and Microsoft have contributed to momentum

The NAS Comp Index turned turned positive for the year, whereas the S&P 500 and the DJIA are still lagging.

Thursday, the major US stock market indexes finished at: DJIA +211.25 at 23875.89, NAS Comp +125.27 at 8979.68, S&P 500 +32.77 at 2881.19

Volume: Trade on the NYSE came in at 955-M/shares exchanged

  • NAS Comp +0.1% YTD
  • S&P 500 -10.8% YTD
  • DJIA -16.3% YTD
  • Russell 2000 -23.1% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias in here.

Looking Ahead: Investors will receive the Employment Situation Report (NFPs) for April and Wholesale Inventories for March Friday.

Have a healthy day, Keep the Faith!

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