Market heavyweights dip ahead of Nasdaq 100 rebalance

  • 📰 Reuters
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Shares of Apple , Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark's 'overconcentration.'

Wall Street's most valuable stocks declined after Nasdaq said late on Friday it would carry out a "Special Rebalance" of the index to "address overconcentration in the index by redistributing the weights."

The adjustment will be based on shares outstanding as of July 3, with changes announced on July 14 and taking effect before the market opens on July 24. The Nasdaq 100 includes 100 of the largest companies that trade on the Nasdaq exchange, and changes to the index will force investment funds that track it to adjust their portfolios and sell shares of companies that have their weight in the index reduced.

Wall Street's most valuable companies have been among the biggest winners in the U.S. stock market's recovery this year, further increasing their weight in the Nasdaq 100, and also in the Nasdaq Composite

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Nasdaq futures lead declines as 10-year holds over 4%Follow all the latest U.S. market action for Monday here.
Source: MarketWatch - 🏆 3. / 97 Read more »