Pair of Familiar Names Could Power QQQ in 2025
Portfolio Pulse from
The Nasdaq 100 Index (NDX) had a strong performance in 2024, largely due to the contributions from the Magnificent Seven stocks. This success positively impacted the Invesco QQQ Trust (QQQ) and the Invesco NASDAQ 100 ETF (QQQM), which are key ETFs tracking the NDX.
January 06, 2025 | 2:00 pm
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POSITIVE IMPACT
The Invesco QQQ Trust (QQQ) benefited from the strong performance of the Nasdaq 100 Index in 2024, driven by the Magnificent Seven stocks.
The QQQ tracks the Nasdaq 100 Index, which performed well in 2024 due to contributions from major stocks, likely leading to positive investor sentiment and potential price increases for QQQ.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Invesco NASDAQ 100 ETF (QQQM) also gained from the Nasdaq 100's strong 2024 performance, supported by the Magnificent Seven stocks.
Similar to QQQ, QQQM tracks the Nasdaq 100 Index and thus benefits from its strong performance, likely resulting in positive short-term price movements.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70