The Nasdaq 100 (NDX) rallied today as investors reacted to the latest economic data. This comes from the February Consumer Price Index (CPI) report, which included year-over-year all-items inflation of 2.8% and core inflation of 3.1%. Both of these measures of inflation were better than expert predictions.
This has investors excited as cooling inflation increases the chance of the Federal Reserve cutting interest rates. That won’t likely happen during the central bank’s March meeting next week, but it’s still a positive sign for the economy. Today’s inflation news might have sparked a larger NDX rally if the ongoing trade war wasn’t weighing down the stock market.
The NDX is up 0.91% as investors celebrated the latest inflation data. That’s a welcome change from the index’s 11.03% drop over the last three months and its year-to-date decrease of 7.78%.
Which Stocks Are Lifting the NDX Index Higher Today?
Turning to the TipRanks NDX heatmap tool, traders will see which stocks are lifting the Nasdaq 100 today. Tech stocks are performing well on Wednesday, with Nvidia (NVDA), Advanced Micro Devices (AMD), Intel (INTC), Micron (MU), and several other companies deep in the green as of this writing.
How to Invest in the Nasdaq 100
Traders can’t take a direct stake in the Nasdaq 100 as it’s only an index. Instead, they might consider buying stocks listed on it. Today’s rally could inspire traders to purchase stocks on the rise. A second option is buying shares falling today in hopes of a rebound.
A third option would be purchasing shares of an exchange-traded fund (ETF) that tracks the NDX. There are options for those betting on and against the index. One popular pick in favor of the NDX is the Invesco QQQ Trust (QQQ) while one against it is ProShares UltraPro Short QQQ (SQQQ).
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