Nasdaq hits all-time high due to rate cut hopes and tech stock rally

Nasdaq reached a new all-time high as hopes for a rate cut grew. The tech-heavy index faced challenges but rebounded due to easing geopolitical tensions and tariff concerns. Mega-cap tech stocks are driving the rally, fueled by optimism around AI and potential rate cuts.

Investing in Nasdaq stocks like MSFT, V, and MA is recommended. These stocks have strong potential and a Zacks Rank of #1 or #2. Nasdaq hit a new closing high of 20,393.13 points on Wednesday, driven by tech stocks after a trade deal with Vietnam was announced. Year to date, the index has gained 5.6%.

AI enthusiasm is boosting the Nasdaq rally, with NVIDIA leading in generative AI. The semiconductor sector is benefiting from the rise of smart devices. Expectations of a rate cut in July are also driving growth-oriented assets like tech stocks. The industry is anticipating two rate cuts this year.

Microsoft Corporation is a top tech provider with a dominant market share. Visa Inc. operates globally in payments technology, while Mastercard offers payment solutions worldwide. These stocks have strong growth potential and Zacks Ranks of #2. The semiconductor industry is witnessing a recovery, and a rate cut could further boost tech stocks.

Zacks has identified 5 stocks set to double, offering a great opportunity for high returns. Most picks are under Wall Street radar, providing potential for significant gains. Microsoft Corporation, Visa Inc., Mastercard Incorporated, and NVIDIA Corporation are among the top picks. Check out Zacks Investment Research for more insights.

Read more at Nasdaq: 3 Stocks to Boost Your Portfolio as Nasdaq Hits All-Time High