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The Nasdaq index continues to be the big winner this year, having risen 27% since Januar7. It also trounced the performance of both the Standards and Practices (S&P) 500 index and the Dow Jones industrial Average. The outperformance shouldn’t come as a surprise given that the Nasdaq is weighted heavily towards technology stocks. All of the mega-cap tech stocks that have gotten a huge boost this year due to the explosive catalyst that is generative artificial intelligence (AI) are listed on the Nasdaq exchange. This year’s stock market rally has been uneven. However, its concentration in a few technology stocks has definitely benefitted the Nasdaq.
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