The tech-concentrated Nasdaq-100 knocks on the verge of exiting bear-market territory Thursday.
A technology stock “meltup” put the Nasdaq-100 index on the verge of exiting bear-market territory Thursday.
The index NDX , heavily weighted toward megacap names, was up 2.9% at 12,727 Thursday afternoon, and traded as high as 12,880.98. A close at or above 12,815.21 would mark a rise of 20% from its Oct. 17 low close of 10,692.06, meeting widely used criteria for exiting a bear market. The index is tracked by the popular Invesco QQQ Trust QQQ .
Facebook parent Meta Platforms Inc. META led the surge Thursday after reporting stronger-than-expected results along with a major share buyback announcement. Earnings from Apple Inc. AAPL , Amazon.com Inc. AMZN and Google parent Alphabet Inc. GOOG GOOGL were due after the closing bell.
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