The Invesco QQQ Trust Series exchange-traded fund QQQ, which tracks the technology-heavy Nasdaq 100 NDX, jumped 2.3% toward a 13-month high in premarket trading Thursday, with a big rally in Nvidia Corp. shares NVDA providing a boost. The QQQs rally comes even as 57 of its components were traded down ahead of the open. Meanwhile, Nvidia’s stock rocketed 29.3% to pace the gainers, which put it on track for the biggest one-day percentage gain since it soared 29.8% on Nov. 11, 2016, after the semiconductor maker’s blow out earnings report. Nvidia was the fourth-highest weighted QQQ component at 5.23% as of March 31. The highest weighted components are Microsoft Corp. MSFT at 12.57%, Apple Inc. AAPL at 12.34% and Amazon.com Inc. AMZN at 6.22%. In Thursday’s premarket, shares of Microsoft rallied 2.9%, Apple tacked on 0.2% and Amazon slipped 0.3%. The QQQs’ rally comes as futures for the S&P 500 gained 0.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Read Full Story
- : Trump says he’s been indicted in documents probe, with Tuesday court date - June 8, 2023
- : Uber, Lyft drivers would get help with deactivations under NYC bill - June 8, 2023
- The Tell: Odds of U.S. ‘hard landing’ rising after Fed’s refusal to pause rate hikes earlier this year, warns Cam Harvey - June 8, 2023
