The Nasdaq 100 (NDX) index joined a broader stock market rally on Friday alongside the latest U.S. jobs report. April jobs data came in better than expected at 177,000 additions, compared to estimates of 133,000 additions. That also came with an unemployment rate of 4.2%, which was unchanged from the month prior.
The relative strength of the job market has further boosted investor confidence after a strong week of earnings. Several companies reported better-than-expected results this week, resulting in positive movement for the Nasdaq 100 and other major stock indices.
Today’s news has the Nasdaq 100 index up 1.83%, building on its 4.76% gain this week. However, a rough start to 2025 means the NDX is still down 5.83% year-to-date.
Which Stocks Moved the Nasdaq 100 Today?
Turning to the TipRanks Nasdaq 100 heatmap tool, traders will see which stocks have moved the index today. The NDX heatmap was largely green today, as investors confidence climbed before the market closes for the week. One major stock that didn’t follow this trend was Apple (AAPL). The tech giant disappointed investors with its Q2 earnings and warned that tariffs would negatively impact its business.
How Has This Affected QQQ Stock?
The Invesco QQQ Trust (QQQ) is an exchange-traded fund (ETF) that tracks the Nasdaq 100 index. As such, it moves in sympathy with the NDX. That’s resulted in a 1.66% rally on Friday and 3.86% gain over the last five days. However, it’s also led to a 6.86% drop year-to-date.
The analysts’ consensus rating for the Invesco QQQ Trust is Moderate Buy, based on the 90 Buy and 12 Hold consensus ratings of the shares covered by the ETF. With that comes an average price target of $566.34, representing a potential 15.63% upside for QQQ stock.
