The Nasdaq 100 index of U.S. tech stocks is back at the highs after the recent selling subsided and buyers returned.
NAS 100 – Daily Chart
The NAS 100 opened at the all-time high around 25,207 and pulled back on low selling. But there is a chance of a move above that level again with important tech earnings coming from Netflix and Tesla.
President Trump said he plans to visit China early in the New Year, but hopes to wrap up a trade deal with Xi Jinping in South Korea.
“I’ve been invited to go to China, and I’ll be doing that sometime fairly early next year. We have it sort of set,” Trump said.
The U.S. President was also asked about an earlier Pentagon assessment that Xi was looking at seizing Taiwan before 2027.
“I think we’ll be just fine with China. China doesn’t want to do that,” Trump added.
News of the meeting and a hopeful tone on Taiwan boost U.S. tech stocks because of the importance of the chipmaking industry in the country. iPhone giant Apple and fellow chip company Nvidia are heavily reliant on the work of Taiwan Semiconductor.
It was the threat of China tariffs that rattled the market recently, and with the meeting confirmed, stocks may continue on their previous ascent. Strong earnings from the tech sector this week would be a good start for the Nasdaq.
