Nasdaq Powers Higher as Tech-Led Rally Lifts U.S. Stocks
U.S. equities climbed toward session highs in a broad risk-on move, with the Nasdaq leading gains as investors piled into technology and growth names. The rally put the Nasdaq on track for its strongest single-day advance since late May, underscoring renewed momentum across chipmakers, AI leaders, and select fintechs.
By mid-afternoon, the Nasdaq Composite was up 2.26%—about 520 points—to 23,524. The S&P 500 advanced 1.49% (roughly 100 points), while the Dow Jones Industrial Average added 0.77% (about 364 points). The tech-heavy index opened sharply higher, vaulted above its 100-hour moving average near 23,406, and, after a brief pullback to 23,290, found support well above last Thursday’s high around 23,242. That recovery back over the short-term trend level cleared the path for buyers to push further.
From a technical perspective, the next resistance sits near 23,637, aligning with last week’s Tuesday and Wednesday highs and marking a critical pivot for momentum traders. A decisive break above that band would return the Nasdaq to the upper range that precedes its record peak at 24,019.99 from October 28, a level closely watched by market participants.
Winners reflected a mix of high-growth and cyclical plays. Notable movers included SoFi Technologies (+9.40%), Papa John’s (+9.20%), Palantir (+9.17%), and Celsius (+8.14%). Semiconductor and AI-linked names surged, with Micron (+6.79%), Western Digital (+6.77%), AMD (+5.24%), Nvidia (+5.19%), and Lam Research (+4.10%) outperforming. Alphabet Class A rose 4.07%, while Robinhood Markets gained 5.22%, reinforcing the day’s tech-led breadth.
Key Points – Nasdaq up 2.26% (about 520 points) to 23,524; strongest daily gain since late May – S&P 500 +1.49% (~100 points); Dow Jones +0.77% (~364 points) – Intraday rebound above the 100-hour moving average at 23,406 keeps momentum intact – Next Nasdaq resistance near 23,637; break higher targets the zone near the 24,019.99 record – Tech, chips, and AI names lead: Nvidia, AMD, Micron, Western Digital, Lam Research – Fintechs and consumer names also rally: SoFi, Robinhood Markets, Papa John’s, Celsius, Alphabet A
