Nasdaq 100 Rejiggering Targets Tech Giants

The Nasdaq 100 Index, a popular growth index comprising 100 of the largest nonfinancial companies, will undergo a special rebalance due to the rapid rise of a few massive tech stocks. The rebalance aims to address overconcentration in the index by redistributing weights, as the five biggest stocks currently exceed the desired threshold. This is the third special rebalance in the index's history, and new weightings will be announced on July 14. The Nasdaq 100 has surged about 37% year to date, outperforming the S&P 500 and the Dow Jones Industrial Average.