Nasdaq 100 index to undergo special rejiggering because a few tech stocks have gotten too big
Publishing timestamp: 2023-07-12 14:42:47
Summary
The Nasdaq 100 index, which is a proxy for growth stocks, has seen a significant surge this year. The three biggest names in the index, Microsoft, Apple, and Nvidia, account for over 30% of the index combined. To address overconcentration, Nasdaq announced a special rebalance of the index, which will take effect on July 24. This rebalance aims to redistribute weights and ensure compliance with diversification rules for index-tracking funds. This is the third special rebalance in the history of the Nasdaq 100.
Sentiment: NEUTRAL
Tickers: NVDA, .NDX, .SPX, AAPL, MSFT, .DJI, QQQ,
Keywords: investment strategy, markets, nvidia corp, breaking news: markets, breaking news: investing, microsoft corp, nasdaq 100 index, dow jones industrial average, apple inc, powershares qqq trust, stock markets, s&p 500 index, business news,