Performance – Ratio of Russell 2000 Index to Nasdaq Composite Small-cap stocks are currently at a record low relative to the Nasdaq Composite. Factors that could drive small-cap stocks to outperform include a rise in M&A and IPOs, robust earnings growth, and changes in interest rates. Image: BofA Global Investment Strategy
Bitcoin and Nasdaq 100 Bitcoin has shown a significant correlation with the Nasdaq 100 in recent times. Bitcoin’s recent decline in price has raised concerns about its implications for the Nasdaq 100 and overall market sentiment. Image: Topdown Charts
Nasdaq-100 Index, Short Interest as a Percent of Shares Outstanding The falling short interest in the Nasdaq 100 is seen as a potential bearish signal, as it reduces a source of support for the market and makes stocks more vulnerable to negative news and price declines. Image: Morgan Stanley Wealth Management
Index Weight of 5 Largest Companies in Nasdaq 100 The Nasdaq 100 index is heavily concentrated in a few large tech companies. While this reflects the strength and innovation of these tech giants, it also introduces risks if sentiment shifts or if regulatory scrutiny increases. Image: Goldman Sachs Global Investment Research
Nasdaq Composite Weekly Chart with 40-Week and 200-Week MAs The Nasdaq may potentially reach 18,700 and 22,400, given the possibility of a catch-up trade within a secular bull market presidential cycle. Image: BofA Global Research
Nasdaq 100 vs. Commodities Will commodities outperform U.S. tech going forward? Image: BofA Global Investment Strategy
Nasdaq 100 Net Long Futures Contracts Leveraged funds and asset managers have different positions on Nasdaq 100 futures. Leveraged funds are currently very net short on Nasdaq 100 futures, while asset managers have a less bullish but still net long position. Image: Deutsche Bank Asset Allocation
Nasdaq 100 Futures Positioning While leveraged funds and asset managers are less bullish on Nasdaq 100 futures, they still maintain a net long position. Image: Deutsche Bank Asset Allocation
Tech Stocks – G3 Central Bank Balance Sheet vs. Nasdaq 100 Will the divergence between central bank liquidity and tech stock performance continue through 2024? Image: BofA Global Investment Strategy
Performance – Biotech vs. Nasdaq 100 U.S. biotech stocks are still experiencing significant underperformance compared to the Nasdaq 100. Image: BofA Global Investment Strategy