Nasdaq 100 Jumps 1.8% as Oil Slides and Yields Retreat Below 5%
NDX sits 29% above its 52-week low of $22,841.417.
Summary
The Nasdaq 100 rallied 1.8% to 29,450.56 on Thursday, erasing two sessions of losses as crude oil retreated from its geopolitical spike and Treasury yields eased back below 5%. The move followed the Fed's first rate hike since 2023, with the 10-year yield falling to 4.95% and WTI dropping 1.6% to $100.81. Chip stocks led the rebound, with Intel surging 9.7% and AMD up 6.9%, while defense names unwound their Middle East risk premium. The VIX slid 11.4% to 15.69, signaling a sharp cooling in volatility. This is the strongest single-day gain for the index in recent weeks and puts it back near its 52-week high.
At the time of this announcement, NDX was trading at $29,428.29 on NASDAQ in the Technology sector. The 52-week trading range was $22,841.42 to $30,762.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.