Sector “Bullish IT Sector: Nasdaq 100, Communication Services, and Transports Soar!

The Nasdaq 100, also known as the QQQ, has seen a major shift in momentum in the communication services sector (XLC) and transports (IYT) over the past few weeks. Many investors have wondered if this surge of bullish sentiment could extend towards the broader market, and new data from the Nasdaq 100 is beginning to show that the trend is positive. The Nasdaq 100, which is a stock index consisting of the top 100 non-financial stocks listed on the Nasdaq Stock Exchange, has outperformed the broad market over the past couple of weeks due to a surge in communication and transport stocks. These sectors have been largely positively impacted by the COVID-19 pandemic, as people are using more streaming services and digital communication methods and utilizing transport services, such as ridesharing, more than ever before. Investors have noted that the apparent bullish trend in the communication services sector has extended to the transports sector as well, as evidenced by the recent outperformance of the IYT relative to the QQQ. This means that investors are now looking to capitalize on the bullish sentiment surrounding these sectors by investing in stocks that are in communication services and transport-related industries. This new dynamic gives investors confidence in the Nasdaq 100, as well as a sense of optimism for the broad market as a whole. There is potential for these sectors to continue to climb higher, or at the very least remain mostly unchanged, if the outbreak of the coronavirus does not worsen. This bullish sentiment could continue, making the Nasdaq 100 an attractive option for investors. Overall, the Nasdaq 100’s shift towards a more bullish bias in communication services and transport stocks is good news for investors who are looking for opportunities in the market. This shift in momentum could signal a broader market trend, and the Nasdaq 100 could be a good place to look for stocks that are exposed to this trend.