Tech stocks push Nasdaq to peak

Wed 10/30/2024

by Ellie LeTu

Source: Financial Times

• Tech stocks comeback

  • A sharp stock hike comeback after the summer slump by 15% down.

  • Driven by Fed’s 50bps rate cut in September.

  • Investors are optimistic about AI development - AI race.

• Nasdaq peak at all-time high

  • Nasdaq peaked on October 29, 2024.

  • The index gained 1.5%, closed at 18518.61.

  • Outperformed S&P 500 because it is more tech concentrated.