QQQ ETF Gains Amid Market Volatility and Earnings Focus
The Invesco QQQ ETF ROSE 0.97% over the past five days, extending its year-to-date gain to 18.6%. Despite U.S.-China trade tensions and a government shutdown, the Nasdaq 100-tracking fund closed 0.66% higher on Friday.
Pre-market activity showed a 0.30% uptick as investors await Q3 earnings from Netflix, Tesla, and Intel, alongside critical inflation data. Analysts maintain a Moderate Buy rating with a $680.75 price target, suggesting 12.7% upside potential.
Top holdings with bullish outlooks include MicroStrategy and MercadoLibre, while Intel and Tesla face significant downside risks. The market's resilience contrasts with macroeconomic headwinds, highlighting tech's defensive positioning.