The Nasdaq 100 continued its rally this week, defying expectations for a downturn in technology stocks despite several headwinds. Treasury yields reached multi-year highs, a development that typically pressures growth stocks like those in the tech sector. Additionally, the Federal Reserve confirmed it remains open to further interest rate hikes, signaling a hawkish monetary policy stance. Oil prices also stayed elevated, remaining above $100 per barrel, which can contribute to inflationary pressures and weigh on equity markets. Despite these factors, the anticipated negative impact on tech stocks did not materialize this week, and the rally in the Nasdaq 100 held firm, though momentum appeared to cool compared to previous periods [1].
CONCLUSION
In summary, the Nasdaq 100 demonstrated resilience by maintaining its rally even as Treasury yields climbed, the Fed signaled possible rate hikes, and oil prices stayed high. While momentum has slowed, the index's performance suggests underlying strength in the tech sector amid challenging macroeconomic conditions.