QQQ Stock Hit $741 Monday And Is Less Than 1 Percent From Its 52-Week High
The Invesco QQQ Trust, the $300 billion ETF tracking the Nasdaq 100, surged 2.77 percent Monday to close at $741.47, extending a four-session winning streak and pushing to within 1 percent of its 52-week high of $748.65. The psychologically important $750 level is now in sight.
Three forces drove the rally simultaneously. AMD hitting a $1 trillion market capitalization for the first time sent semiconductor stocks surging, the Philadelphia Semiconductor Index jumped 4.3 percent and AMD itself closed up nearly 10 percent.
Meta surged 11.4 percent after receiving a bullish price target upgrade tied to AI strategy optimism.
The 10-year Treasury yield slipped back below 5 percent as falling oil prices eased near-term inflation concerns following the Fed's September 16 rate hike — the first hike in three years.
QQQ is now up approximately 20.7 percent for 2026. The Nasdaq 100's top 10 holdings, led by Nvidia, Microsoft, Apple, Alphabet and Meta, represent nearly 47 percent of the fund and have been powering the entire move. Whether QQQ can break cleanly above $750 and hold depends on whether the AI earnings momentum can continue to overwhelm the rate cycle headwind that resumed this month.
