QQQ ETF Rises on Rate Cut Speculation as Tech Stocks Gain
The Invesco QQQ ETF climbed 0.75% on Friday, buoyed by renewed Optimism for a December rate cut after New York Fed President John Williams signaled openness to easing monetary policy. Labor market concerns now outweigh inflation risks in the central bank's calculus.
Pre-market activity suggests continued momentum, with QQQ up 0.52% Monday morning. While the ETF remains down 3% for the week, its 16% year-to-date gain underscores tech's resilience. Analyst consensus rates QQQ a Moderate Buy with 22.4% upside potential.
MicroStrategy leads QQQ's highest-upside holdings, followed by Trade Desk and Atlassian - a configuration reflecting persistent institutional interest in tech-enabled growth stories. The ETF's movement often serves as a liquidity proxy for crypto markets, particularly Bitcoin and large-cap altcoins.
