Nasdaq 100: Tech Stocks Lift US Indices Today as AI Optimism Builds Mid-Session

Tech Strength Lifts Wall Street into Mid-Session Trade

U.S. stocks are holding firm into the mid-session, with tech once again carrying the load after Thursday’s rebound. At 16:15 GMT, the Nasdaq is leading with a near-1% gain, the S&P 500 is up 0.75%, and the Dow is higher by about 0.5%.

Buyers aren’t chasing aggressively, but they’re showing enough interest to keep the morning’s momentum intact. The outlier is Nike, which is dragging on the Dow after a tough earnings update tied to weakening China demand.

Technically, the Nasdaq Composite (IXIC) is trying to build up its bullish crossover of the 50-day moving average at 23125.05.

Tech Extends Its Rebound as AI Optimism Re-Energizes Flows

Tech remains the clear driver today. Micron’s strong forecast cracked open the AI trade again, pulling investors back into names that were under pressure earlier this week.

Valuation concerns haven’t disappeared, but they’re not keeping traders sidelined either. With eight of eleven S&P sectors in the green, the tone leans risk-on, and tech is setting the pace heading toward the mid-session. The buying isn’t euphoric — just steady enough to show traders still want exposure.

Nike’s China Shortfall Hits Sentiment Around the Dow

Nike is the day’s biggest drag. The stock is down more than 10% after margins contracted for a second straight quarter and China sales undershot expectations. Traders were quick to punish the miss, especially with management working through a product reset. The weakness hasn’t spilled into broader retail, but it’s weighing on the Dow.

FedEx is also softer after warning that current-quarter earnings will trail last quarter’s results, while Lamb Weston sank 19% as its steady sales outlook failed to ease concerns around a softer economic backdrop.

Oracle is the bright spot outside tech megacaps. The stock is up more than 5% after ByteDance agreed to hand control of TikTok’s U.S. operations to a group of investors that includes the cloud giant — a headline traders welcomed given recent questions around enterprise demand.

Inflation Relief Helps Steady Sentiment but Doesn’t Shift Fed Expectations

This week’s cooler CPI print is still giving the market a little breathing room, though some desks flagged possible distortions tied to the 43-day government shutdown. Rate bets haven’t shifted much: traders continue to price at least two quarter-point cuts next year and assign a small chance to a January move. Some strategists expect the Fed to hold firm through the first half of 2026 to reinforce independence as political pressure builds.

The final University of Michigan sentiment reading ticked down slightly to 52.9, offering no new catalyst for intraday flows.

Volatility Picks Up as Triple Witching and Year-End Seasonality Collide

With triple witching in play, traders are bracing for sharper moves into the close. Positioning clean-up is already evident, and late-day swings could be larger than usual. As the market heads into the final stretch of December, the focus turns to whether a Santa rally forms — a pattern that has historically given the S&P 500 a modest lift into early January.

Bottom line: tech remains the engine as mid-session flows stay constructive, but volatility risks are climbing into the afternoon.

More Information in our Economic Calendar.