The Nasdaq 100 Index surged to its first record since July, driven by investor optimism over the US presidential election’s impact on regulatory policies. The index rose 2.7% on Wednesday, its largest one-day gain since August 8, and reached an all-time high. This marks a significant increase for the year, with the Nasdaq 100 now up 24% in 2024 and 16% above its August low. Investors believe the election results will create a more favorable regulatory environment, contributing to big tech’s strong performance throughout 2024, which has been driven by the boom in artificial intelligence.
Source: https://www.bloomberg.com/news/articles/2024-11-06/nasdaq-100-hits-record-as-big-tech-extends-climb-after-election