AI-Driven Rally Pushes Tech Stocks To Records, Broadcom Enters Trillion-Dollar Club, Inflation Data Flashes Warning Signal: This Week In The Markets

Quick Summary:

The tech-heavy Nasdaq 100 index – as tracked by the Invesco QQQ Trust (NASDAQ:QQQ) – extended its relentless climb this week, setting new record highs and nearing the 22,000-point milestone, fueled by strong investor optimism in the Magnificent Seven tech giants and the transformative potential of artificial intelligence.

Since the start of 2023, the Nasdaq 100 is on track to double, nearing a 100% gain – a performance last achieved in 2019-2020 with a 102% rise and previously hit during the dot-com boom of 1998-1999.

Year-to-date, the index has posted a robust 30% gain, on track to outperform the S&P 500 for the ninth time in the last decade.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesChina

Topics: Magnificent 7 Econ #s US38259P5089 Top Stories ETFs GM Equities US37045V1008 QQQ US0378331005 Donald Trump Benzinga Broad U.S. Equity ETFs US0231351067 Economics AMZN US73935A1043 SG9999006241 TSLA Tech US88160R1014 META Federal Reserve Stories That Matter Macro Economic Events GOOGL AAPL News AVGO

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-13 @ 21:41:36 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 455 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 24404090

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