NASDAQ (QQQ) Rolls Over
Tweet
Share
E-mail
After a 17 percent rise year to date, the NASDAQ has become top heavy. Sentiment regarding the index has been stellar so far this year and earnings numbers have been solid, especially from heavily-weighted Apple, which had a blowout quarter.
Today's jobs number painted a muddy picture for U.S. economy and traders are responding by bailing out on the markets highest flying index. NASDAQ stocks tend to trade at higher multiples given higher growth rates in the tech industry, so it makes sense that a negative reaction would show up here first.
Investors can get exposure to the NASDAQ by trading the ETF PowerShares QQQ (Nasdaq: QQQ).
QQQ is down 1.6 percent currently. Not coincidentally, Apple is down 2 percent.
Today's jobs number painted a muddy picture for U.S. economy and traders are responding by bailing out on the markets highest flying index. NASDAQ stocks tend to trade at higher multiples given higher growth rates in the tech industry, so it makes sense that a negative reaction would show up here first.
Investors can get exposure to the NASDAQ by trading the ETF PowerShares QQQ (Nasdaq: QQQ).
QQQ is down 1.6 percent currently. Not coincidentally, Apple is down 2 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Conagra Brands falls on weak fiscal 2027 earnings outlook
- Morgan Stanley shares gain as equities trading, dealmaking fuel Q2 earnings beat
- Gevo targets doubled EBITDA estimate, eyes North Dakota expansion
Create E-mail Alert Related Categories
ETFsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
