Nasdaq Edges Up 0.4% as Volume Plummets 70% to Rank 319th in U.S. Equities

, 2025, , . equities. The index’s modest gain came amid mixed market sentiment, with investors cautiously navigating a broader equity landscape characterized by fluctuating liquidity and sector-specific volatility.

Key drivers for Nasdaq’s performance included subdued trading activity across major tech and innovation sectors. While the index managed to post a positive close, the sharp drop in dollar volume highlighted reduced institutional participation and retail trading momentum. Analysts noted that the decline in volume could signal short-term uncertainty among market participants, particularly in light of ongoing macroeconomic concerns and earnings season dynamics.

Strategic positioning for the session revealed a focus on defensive positioning, with underperforming sectors like discretionary and industrials tempering broader market gains. Nasdaq’s resilience contrasted with weaker performance in large-cap benchmarks, reflecting divergent sector allocations and risk appetite shifts. However, the lack of follow-through buying pressure suggested limited conviction in the current upward trend.

To make sure I set up the back-test exactly the way you intend, could you confirm a few details? 1. , ADRs, etc.)? Or do you have another universe in mind (e.g., ? 2. ? 3. , rebalancing daily, and measure the close-to-close return (i.e., ? , , or some other convention? 4. , ? Once I have these specifics, I can pull the necessary data and run the back-test.