Nasdaq-100 ETF Gains 1.66% as Chip Rally Sparks Market Lift
QQQ•Chip sector gains propelled the Nasdaq-100 ETF up 1.66% at Wednesday’s close, outpacing a 1.62% jump in the Nasdaq 100 index. Tech futures later retraced, with Nasdaq futures down 0.12%, S&P 500 futures off 0.09% and Dow futures slipping 0.05% overnight.
1. Chip Stocks Drive ETF Rally
The Nasdaq-100 ETF jumped 1.66% on Wednesday as strength in semiconductor names pushed technology shares higher. Major chip suppliers registered gains over 2%, lifting the index component that tracks 100 of the largest nonfinancial companies listed on Nasdaq.
2. Futures Retrace After Gains
Following the late-session rally, futures contracts reversed course overnight, with Nasdaq futures down 0.12%, S&P 500 futures off 0.09% and Dow futures slipping 0.05%. The pullback suggests profit-taking after broad-market advances in U.S. equities.
