Tech Giants Propel Nasdaq to New Heights Amid Market Volatility

The Nasdaq reached a new intraday record, driven by tech giants as Treasury yields fluctuated. Nvidia temporarily surpassed Apple in market value, while mixed performances saw the Dow decline. Investors are focused on upcoming quarterly results from major companies and uncertain market conditions ahead of the U.S. presidential election.

The Nasdaq surged to a fresh intraday record on Friday, propelled by the strength of tech giants, while Treasury yields eased slightly from earlier highs in the week. Investors are now eyeing quarterly earnings from major Wall Street firms next week, as well as the upcoming U.S. presidential election.

Nvidia momentarily overtook Apple to become the world's most valuable company, marking a remarkable shift in market dynamics, even as other major stocks like Tesla saw significant gains. Meanwhile, a drop in Goldman Sachs and McDonald's impacted the Dow's performance, amid lingering market uncertainties.

The focus remains on the fast-approaching week, critical for Wall Street, as results from leading tech firms such as Alphabet, Apple, and Microsoft are anticipated to influence market direction, particularly with ongoing economic and political uncertainties.

(With inputs from agencies.)