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

473.71

Mkt cap

189B

Volume

43M

High

480.56

P/E Ratio

30.74

52-wk high

540.81

Low

473.12

Div yield

0.01

52-wk low

413.07

Nvidia's strong quarterly results and revenue guidance led to a 10% surge in its stock, propelling tech indexes to record highs. The Nasdaq 100 and S&P 500 reached new peaks, while the semiconductor sector outperformed. Broader market sentiment turned cautious due to inflation concerns, impacting Treasury yields and causing declines in blue-chip and small-cap stocks. Key stock movers included e.l.f. Beauty, Snowflake, V.F. Corp., EnerSys, BBB Foods, Medtronic, Ralph Lauren, Hamilton Lane, CSW Industrial, Live Nation, and Boeing.

Portfolio Pulse from Piero Cingari

May 23, 2024 | 5:21 pm

Nvidia reported strong Q1 earnings, surpassing consensus estimates and aligning with whisper numbers. The company announced a 10-for-1 stock split and highlighted future revenue from AI factories and sovereigns. Other AI-related stocks also saw positive movement. The Arora Report raised its long-term target for Nvidia and issued a new Buy Now rating.

Portfolio Pulse from The Arora Report

May 23, 2024 | 4:26 pm

Indexes are mixed following strong earnings from NVIDIA and upbeat economic data.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 4:07 pm

US business activity surged in May, with the fastest expansion in over two years, driven by both the services and manufacturing sectors. However, rising input costs raise concerns about achieving the Fed's 2% inflation target. Market reactions included declines in stocks and gold, and higher Treasury yields.

Portfolio Pulse from Piero Cingari

May 23, 2024 | 3:26 pm

The S&P 500 and Nasdaq 100 indices hit new record highs, driven by Nvidia's (NASDAQ:NVDA) 9% surge to $1,034 per share following stellar earnings and guidance. Nvidia reported $26 billion in revenue, a 262% YoY increase, with AI-driven Data Center revenue up 427%. ETFs like SPY, QQQ, and XLK also saw gains, while DIA and IWM underperformed.

Portfolio Pulse from Piero Cingari

May 23, 2024 | 2:07 pm

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 1:26 pm

Wall Street is set for a strong open driven by Nvidia's positive earnings, with key economic data and a Federal Reserve official's speech also in focus. Nvidia's stock surged over 6.6% in premarket trading, while other notable movements include Snowflake, V.F. Corporation, and Zuora. Analysts suggest a bullish near-term market outlook, but caution on the potential impact of weak economic data.

Portfolio Pulse from Shanthi Rexaline

May 23, 2024 | 11:07 am

A CNBC discussion highlighted the differing impacts of Nvidia and the Federal Reserve on the macro-market. Nvidia has seen a significant stock surge, outperforming major ETFs, while the Fed's monetary policy remains crucial for economic stability. Nvidia's recent success includes a beat-and-raise Q1, a 150% dividend hike, and a 10-for-1 stock split.

Portfolio Pulse from Kaustubh Bagalkote

May 23, 2024 | 4:59 am

Nvidia Corp. (NASDAQ:NVDA) reported strong Q1 results, surpassing expectations and announcing a 150% dividend hike and a 10-for-1 stock split. The company also provided robust guidance for Q2. Nvidia's stock rose in after-hours trading following the news.

Portfolio Pulse from Shanthi Rexaline

May 22, 2024 | 8:36 pm

The minutes from the May FOMC meeting indicate a prolonged period of high interest rates, countering earlier dovish signals from Fed Chair Jerome Powell. Key points include the persistence of inflation, the effectiveness of current policy, and the potential for further tightening. Financial experts highlight the impact on market fluctuations and the challenges faced by the Fed. Major indices closed lower, and the dollar gained ground.

Portfolio Pulse from Piero Cingari

May 22, 2024 | 8:05 pm

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