Nasdaq 100 without tech stocks just isn’t the same index
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:15 p.m. (1:15 p.m.) on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube.
The Nasdaq 100 Index just wouldn’t be the same without its technology companies. About 40% of the U.S. equity benchmark’s components fit into the category as defined by FTSE Russell and Dow Jones, according to data compiled by Bloomberg. A gauge of all the others, the Nasdaq 100 Ex-Tech Sector Index, fell to record lows the past three days relative to an equally weighted version of the Nasdaq 100. “Technology stocks have been the primary driver of the Nasdaq 100,” Andrew Thrasher, founder of Thrasher Analytics, wrote in a Twitter post Thursday with a similar chart.