Rally

<p>The Nasdaq (INDEXNASDAQ: IXIC), an index that includes almost all stocks listed on the Nasdaq stock exchange, ended 2023 with a stellar 43% growth and has continued to push higher into the new year.&nbsp;</p>
<h2 class="wp-block-heading" id="nasdaq-index-reaches-new-ath">Nasdaq Index Reaches New ATH</h2>
<p>So far in 2024, the index has gained over 10% after closing February on a historical note, reaching a record high of 16,302.24 for the first time since 2021, according to TradingView data.&nbsp;</p>
<p>Several factors contributed to this recent surge of the tech-heavy index, and the rapid growth of AI stocks these past months is one notable factor. AI companies, including chipmakers and cloud companies, have been seeing massive growth in stock price gains and revenue as the AI trend picked up last year.</p>
<p>Leading the charge were prominent AI stocks like Nvidia, which holds significant weight within the Nasdaq. The stock price of the company alone is currently up over 249.32% year-over-year. Nvidia dominates the global AI chip market by a wide margin.</p>
<p>In January, the company <a href="https://www.cryptopolitan.com/nvidia-dominates-265-revenue-growth/" rel="noopener noreferrer nofollow">reported a fourth fiscal quarter earnings of $22.1 billion</a>, up 22% from Q3 and 265% from a year ago. With the rising demand in the market, the company expects its first quarter of fiscal 2025 revenue to come in at $24.0 billion, plus or minus 2%.</p>
<h2 class="wp-block-heading" id="can-the-nasdaq-index-rally-continue">Can the Nasdaq Index Rally Continue?</h2>
<p>The growth of the index itself boils down to the collective performance of the listed company, which includes AI chipmakers, cloud providers, and other big tech companies.&nbsp;</p>
<p>The continued growth and adoption of AI technologies bode well for these companies and potentially the index itself. Leading AI companies like Nvidia are well-positioned to benefit from this trend, potentially boosting the Nasdaq index if their individual performances are strong.</p>
<p>Additionally, improving macroeconomic factors, including the anticipated easing of interest rates by the US Federal Reserve, are creating a more favourable environment for riskier assets, which could serve as a tailwind for the stock market in general, including the Nasdaq.</p>

Nasdaq Index Soars to New Heights: Can the Rally Continue?

Table of Contents

Cryptopolitan_News

Other articles published on Mar 4, 2024

Cryptocurrency Market Trends: Bitcoin Leads as Altcoins Gain Momentum

Coinbase Vs SEC: CLO Paul Grewal Rejects Secondary Crypto Sales Ruling Precedent

$SMOG Hits New ATH, Secures Spot On Jupiter’s Strict List, And Blasts Past 40K Holders

Bitcoin funding rates surge to 100%, creating a potential opportunity for astute traders.

Top Crypto Gainers Today Mar 04 – JasmyCoin, Axelar, Fantom, Flow

SingularityNET (AGIX) Bounces Back After Major Token Unlock; Pepe (PEPE) Skyrockets; InQubeta (QU...

Join our free newsletter for daily crypto updates!