Nasdaq erases declines. Index trades in positive territory.

The NASDAQ index has moved into positive territory. It currently trades up 49 points or less 0.27% at 19194.50. That erased a decline of -142.20 at session lows. With the week nearly half over, the index is near unchanged at -0.09%

📈 Top Gainers in the Nasdaq-100

1. Alphabet Inc. (GOOGL)

   • Gain: +5.14%

   • Closing Price: $172.41

   • Reason: Alphabet’s stock surged following the unveiling of new AI search features at its developer conference, signaling the company’s continued innovation in artificial intelligence technologies.

2. AppLovin Corporation (APP)

   • Gain: +2.31%

   • Closing Price: $371.43

   • Reason: The stock’s rise is attributed to positive investor sentiment, possibly driven by recent product updates or favorable market conditions.

3. ARM Holdings plc (ARM)

   • Gain: +2.07%

   • Closing Price: $133.75

   • Reason: ARM’s gains may be linked to increased demand for its semiconductor technologies, especially in AI and mobile computing sectors.

4. Netflix Inc. (NFLX)

   • Gain: +1.43%

   • Closing Price: $1,209.07

   • Reason: Netflix’s stock benefited from sustained subscriber growth and anticipation of upcoming content releases.

5. Palantir Technologies Inc. (PLTR)

   • Gain: +0.54%

   • Closing Price: $126.27

   • Reason: The company’s continued expansion into government and commercial contracts likely contributed to investor confidence.

Although positive, the S&P index is still down on the day. It’s current price is down -11.43 points or -0.19% at 5929. For the week, the index is down -0.50%. At session lows today, the index was down -62.69 points.

Finally, the Dow industrial average is sharply lower today with a decline of -306.60 points or -0.72% at 42371. At session lows index was down -448.09 points. For the trading week, the index is down -0.67%

📉 Top Dow Drags Today

1. UnitedHealth Group (UNH)

• Price Drop: −$20.42 (−6.4%)

• Reason: HSBC downgraded UnitedHealth’s stock and significantly reduced its price target from $490 to $270, citing concerns over regulatory pressures and margin compression.

2. Amazon.com Inc. (AMZN)

• Price Drop: −$3.37 (−1.7%)

• Reason: While specific news was not detailed, the decline contributed to the overall drag on the Dow.

3. Nike Inc. (NKE)

• Price Drop: −$1.11 (−1.77%)

4. American Express Co. (AXP)

• Price Drop: −$3.07 (−1.03%)

5. International Business Machines Corp. (IBM)

• Price Drop: −$1.78 (−0.66%)

This article was written by Greg Michalowski at www.forexlive.com.