Streetbeat News

QQQ

Invesco QQQ Trust

http://www.invesco.com/portal/site/us/investors/etfs/product-detail?productId=QQQ

Industry

Asset Management

To maintain the correspondence between the composition and weights of the securities in the trust (the "securities") and the stocks in the NASDAQ-100 Index®, the adviser adjusts the securities from time to time to conform to periodic changes in the identity and/or relative weights of index securities. The composition and weighting of the securities portion of a portfolio deposit are also adjusted to conform to changes in the index.

Open

502.94

Mkt cap

195B

Volume

50M

High

503.31

P/E Ratio

40.49

52-wk high

515.58

Low

494.50

Div yield

0.01

52-wk low

382.66

The Nasdaq 100, tracked by the Invesco QQQ Trust (QQQ), has experienced its best six-day rally since late 2022, closing 2.5% higher on Thursday. Semiconductor stocks, tracked by the VanEck Semiconductor ETF (SMH), also saw significant gains. Top performers included Marvell Technology (MRVL), Super Micro Computer (SMCI), Cisco Systems (CSCO), ON Semiconductor (ON), and Lululemon Athletica (LULU). The rally is driven by easing recession fears and better-than-expected economic data.

Portfolio Pulse from Piero Cingari

August 15, 2024 | 8:42 pm

Three new pieces of data—Walmart earnings, jobless claims, and retail sales—have triggered aggressive buying in NVIDIA Corp (NVDA) and AI stocks. Walmart's strong earnings and positive retail sales data indicate a robust consumer economy, while lower jobless claims suggest economic strength. This has led to positive money flows in major tech stocks and ETFs, including NVDA, AAPL, AMZN, GOOG, META, MSFT, TSLA, SPY, and QQQ.

Portfolio Pulse from The Arora Report

August 15, 2024 | 7:32 pm

Wall Street experienced a strong risk-on session driven by positive economic data, including robust retail sales and a decline in jobless claims. This led to a shift in expectations for Federal Reserve rate cuts, causing bond yields to rise and impacting various ETFs and stocks.

Portfolio Pulse from Piero Cingari

August 15, 2024 | 5:04 pm

The Market Clubhouse Morning Memo for August 15th, 2024, provides a detailed analysis of key price levels for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA. The memo highlights potential bullish and bearish scenarios for each asset, emphasizing the importance of monitoring these levels closely. The trading session is expected to be volatile due to the release of significant economic data and remarks from Federal Reserve members.

Portfolio Pulse from RIPS

August 15, 2024 | 3:07 pm

Tesla Inc (NASDAQ:TSLA) shares are trading higher by 5.77% to $213 due to stronger-than-expected retail sales, indicating increased consumer demand and confidence. This could boost expectations for higher vehicle sales for Tesla. The rise in major indexes like Invesco QQQ Trust (NASDAQ:QQQ) and SPDR S&P 500 ETF Trust (NASDAQ:SPY) also supports Tesla's stock price.

Portfolio Pulse from Henry Khederian

August 15, 2024 | 2:18 pm

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:15 pm

U.S. retail sales surged by 1% in July, significantly exceeding expectations, while initial jobless claims fell short of forecasts, indicating a stronger labor market. Traders are now leaning towards a 25-basis-point rate cut by the Federal Reserve in September. U.S. index futures rose in premarket trading, with the Nasdaq 100, S&P 500, and Dow Jones futures all showing gains. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) both recorded their fifth consecutive session of gains on Wednesday.

Portfolio Pulse from Piero Cingari

August 15, 2024 | 12:44 pm

U.S. stocks are poised for a modestly higher start, with the S&P 500 aiming for a sixth consecutive win. Key data on job market, consumer spending, and manufacturing activity, along with retail earnings, will influence trading. Walmart's strong earnings and guidance boost shares, while Alphabet faces potential DOJ action. Cisco and Lumentum see premarket gains on positive earnings. Upcoming economic data and Fed speeches will be closely watched.

Portfolio Pulse from Shanthi Rexaline

August 15, 2024 | 11:29 am

Wall Street experienced mixed reactions as the July consumer inflation report showed a continued cooling trend, with the headline CPI at 2.9% year-over-year. Financial stocks outperformed, while communication services and consumer discretionary sectors lagged. Key movers included Alphabet Inc., Tesla Inc., and Starbucks Inc. Long-dated Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF. The U.S. dollar index remained steady, while oil prices and Bitcoin declined.

Portfolio Pulse from Piero Cingari

August 14, 2024 | 5:28 pm

The Market Clubhouse Morning Memo for August 14th, 2024, provides a detailed analysis of SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA. The memo outlines key support and resistance levels for each asset, suggesting potential bullish and bearish targets. The release of July's CPI data and the Real Average Hourly Earnings report are expected to drive significant market volatility.

Portfolio Pulse from RIPS

August 14, 2024 | 2:31 pm

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