Nasdaq 100: Edges Lower From Record High, Tesla and AMD Hold Gains in US Stocks

Nasdaq Touches Fresh Record Before Pullback as AI Optimism Counters Tariff Concerns

The Nasdaq opened Thursday with a fresh all-time high before easing 0.3% off its peak, reflecting underlying resilience as traders balanced AI optimism against President Trump’s aggressive tariff push. This follows Wednesday’s 0.9% surge on AI enthusiasm, even as the S&P 500 stayed flat and the Dow rose 0.3% in early trade.

Can AI Optimism Offset Federal Tariff Pressures?

Late Wednesday, President Trump announced a 50% tariff on imported copper and on Brazil, expanding a sweeping tariff campaign aimed at multiple countries. Despite these policy moves, the Nasdaq’s early strength suggested traders see potential for AI-led productivity gains to absorb higher input costs.

Wharton’s Jeremy Siegel noted AI advancements could “counteract any price increases from the tariffs,” keeping traders positioned for tech-led growth.

Nasdaq 100: How Are Tesla, AMD, and Nvidia Moving?

Tesla surged 3.48% to $306.19, driven by its AI and autonomous driving momentum, while AMD jumped 4.53% to $144.68 as traders bet on continued demand for AI-optimized chips.

Nvidia, after briefly hitting a $4 trillion market cap Wednesday, edged down 0.41% to $162.22, reflecting mild profit-taking.

Microsoft slid 0.82%, and Meta Platforms dropped 1.23%, indicating selective buying within the AI space as valuations and near-term catalysts guide positioning.

Sector Watch: Are Consumer and Healthcare Stocks Gaining the Upper Hand?

Consumer discretionary led sector gains with a 0.73% rise, supported by expectations that AI-driven productivity will sustain consumer spending power.

Healthcare climbed 0.99% in early trade, showing investors’ willingness to back defensives alongside growth sectors.

In contrast, the S&P technology sector dipped 0.4%, revealing the split between mega-cap AI winners and broader tech undercurrents.

Which Sectors Are Under Pressure Within the Nasdaq 100?

Cybersecurity names struggled, with CrowdStrike down 3.81% and Palo Alto Networks off 4.23%, suggesting traders are rotating toward direct AI plays.

SaaS names like Workday and Zscaler fell over 4%, highlighting concerns about enterprise software valuations in a potentially slower economy.

Semiconductor equipment stocks were mixed, with KLA gaining while Broadcom fell 1.53%, reflecting nuanced positioning within chip manufacturing.

What’s the Nasdaq’s Near-Term Outlook?

Traders will monitor whether the Nasdaq can maintain its record-breaking momentum or see profit-taking as AI optimism competes with tariff concerns.

Selective buying within tech, strength in consumer and healthcare, and sector rotations suggest traders are balancing growth potential with caution as the session develops.

More Information in our Economic Calendar.