Business · Malaysia Bureau
Tech stocks drive Nasdaq to fresh record highs
The Nasdaq Composite surged to record levels, buoyed by heavyweight technology companies including Nvidia, Meta and Microsoft. The rally came as the US dollar strengthened and Treasury yields climbed.
LSN Malaysia ·
Technology stocks powered the Nasdaq Composite to new record highs, with the index gaining approximately 1% as major chip and software firms led the advance. Shares of Nvidia, Meta Platforms and Microsoft were among the key drivers of the upward momentum, reflecting sustained investor confidence in the sector.
The broader market momentum coincided with a strengthening US dollar and rising yields on Treasury bonds, reflecting shifts in investor sentiment regarding interest rate expectations and economic growth prospects. The combination of these factors supported equity valuations, particularly among large-cap technology companies that have dominated market gains in recent months.
The tech sector's outperformance underscores its continued importance to market indices, as investors balance concerns about economic headwinds against optimism about artificial intelligence adoption and corporate earnings potential. The record-setting performance marks another significant milestone for US equity markets as trading continues to reflect evolving expectations about monetary policy and corporate performance.