Nasdaq 100 also hits session high

Nasdaq 100 also hits session high

The Nasdaq 100 (NDX) index reached a new session high on July 2, 2025, driven by a mix of gains and losses among its major components. The index, which tracks the performance of the 100 largest non-financial companies listed on the Nasdaq Stock Exchange, was boosted by strong performance from several tech giants.

Shares of T-Mobile US (TMUS) led the way, with a 6.9% increase in early trading on Thursday, year-to-date gains of 13.3% [2]. Meanwhile, Tesla (TSLA) was the worst performer, falling by 8.4% and down 24.6% year-to-date [2]. Other notable movements included ON Semiconductor (ONNN), which dropped 7.0%, and O'Reilly Automotive (ORLY), which rose 3.1% [2].

The Nasdaq 100 index itself was up 0.39% on the day, reaching 23,252.39, and has seen a year-to-date gain of 9.70% [3]. The index's performance is a reflection of the broader tech sector, which has seen mixed sentiment due to earnings reports and geopolitical factors.

Investors are closely watching the earnings reports of major tech companies, including Tesla, Google parent Alphabet (GOOGL), and IBM (IBM), which are expected to release their quarterly results after the market closes on Wednesday [1]. These reports are likely to influence the tech sector's performance and, consequently, the Nasdaq 100.

The Invesco QQQ Trust (QQQ), which tracks the performance of the tech-heavy Nasdaq 100 Index, has also been trading at record high levels [1]. The ETF has rebounded 40% from its early-April low and was up 10% since the start of the year. Technical analysis suggests that the QQQ could reach a near-term overhead price target of $589, about 4% above Monday’s closing price [1].

Overall, the Nasdaq 100's performance on July 2, 2025, reflects the ongoing volatility and uncertainty in the tech sector, driven by earnings expectations and broader market conditions.

References:
[1] https://www.investopedia.com/watch-these-qqq-price-levels-as-nasdaq-100-etf-at-record-high-big-tech-earnings-11776495
[2] https://www.nasdaq.com/articles/nasdaq-100-movers-tsla-tmus
[3] https://finance.yahoo.com/quote/%5ENDX/