All articles tagged with #nasdaq 100 index
Sirius XM Holdings stock experienced a sudden surge of 42% due to a combination of factors including short covering, the unwinding of a spread trade involving Liberty SiriusXM, and potential buying related to the rebalancing of the Nasdaq 100 index.
Crypto analyst Kaleo predicts that Bitcoin (BTC) will surpass $100,000 in late 2024 or early 2025, shortly after the next halving event expected in April 2024. Kaleo also notes that Bitcoin's price action against the Nasdaq 100 index suggests a potential massive rally for the cryptocurrency. At the time of writing, Bitcoin is trading at $30,676, up 1.3% in the last 24 hours.
Apple Inc. shares closed at an all-time high of $183.79, the first in over a year, indicating the dominance of big tech in the stock market. The stock has gained over 41% in 2023, compared to the Nasdaq 100 Index's 35% gain. Apple's strong balance sheet, capital-return program, and durable revenue streams have made it a favorite among investors. The company's plans to expand and revitalize its retail chain have also boosted investor optimism. Apple's market capitalization of $2.89 trillion puts it within striking distance of achieving a historic $3 trillion valuation.
Technology stocks have performed well in March, with the IT sector seeing a considerable rebound. Meanwhile, the financial sector has struggled due to two high-profile bank failures. The S&P 500 has seen a strong showing, but only 220 stocks have risen during the month due to the index's weighting by market capitalization. The top-performing stocks in the S&P 500 during March include Intel, First Solar, and Advanced Micro Devices.