Nasdaq 100 Index Today: QQQ Jumps on Strong Labor Data amid a Warning from the OECD

The Nasdaq 100 (NDX) is rising higher on Tuesday following a strong labor market update alongside a warning from the Organization for Economic Cooperation and Development (OECD).

This morning, the Job Openings and Labor Turnover Survey (JOLTS) for April came in better than expected with 7.39 million job openings compared to the estimate for 7.10 million and improving from 7.19 million in March. The figure signals a resilient job market despite uneconomic certainty from tariff policies.

Along with the good comes the bad. The OECD now expects U.S. gross domestic product (GDP) to grow by 1.6% in 2025, down from its previous estimate of 2.2% and from 2.8% in 2024. In addition, the OECD lowered global GDP growth for 2025 to 2.9% from 3.1%. The countries most responsible for dragging down the estimate include the U.S., Canada, Mexico, and China. The OECD cited trade barriers, uneconomic certainty, and inflation risks as reasons for the forecast reduction.

In trade and tariff news, China Minister of Foreign Affairs spokesperson Lin Jian has said that the U.S. “falsely accuses and smears China” in a sign of rising tensions between the two countries. Jian added that the U.S. has created new chip export controls and blocked electric design automation (EDA) sales, both “extreme suppression measures.”

The Nasdaq 100 is up by 0.93% at the time of writing.

Which Stocks are Moving the Nasdaq 100?

Let’s take a look at TipRank’s Nasdaq 100 Heatmap, which illustrates the stocks that have contributed to the index’s price action.

Semiconductor stocks are leading the way within the technology sector, led by Micron’s (MU) 4.69% gain and Nvidia’s (NVDA) 2.91% jump. Arm Holdings (ARM), Applied Materials, (AMAT), and Advanced Micro Devices (AMD) are trading higher as well.

Elsewhere, Google (GOOG) (GOOGL) is slightly in the red after Barclays warned that its shares could fall as much as 25% if the Department of Justice rules that it must divest its Google Chrome browser. Tesla (TSLA) is up by about 3%, bringing its monthly rise to 26%.

QQQ Stock Moves Higher with the Nasdaq 100

The Invesco QQQ Trust (QQQ) is an exchange-traded fund (ETF) designed to track the movement of the Nasdaq 100. As such, QQQ is rising in correlation with the Nasdaq 100 today.

Wall Street rates QQQ stock with a “Moderate Buy.” During the past three months, analysts have issued an average QQQ price target of $573.79 for the stocks within the index, implying upside of 8.63% from current prices. The 102 stocks in QQQ carry 85 buy ratings, 17 hold ratings, and zero sell ratings.