What's prompting the rare special rebalance in the Nasdaq 100? It's triggered when all the Nasdaq 100 stocks with individual 4.5% market value weights collectively account for 48% or more of the index.
And that happened on July 3, with six stocks: Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOGL), Amazon.com (AMZN) and Tesla (TSLA). Together they accounted for 50.9% of the Nasdaq, Bespoke found. It's the third time since 1998 this rebalance happened.
HAPPY INDEPENDENCE DAY
In honor of the holiday, US stock and options markets will close at 1 p.m. ET on Wednesday, July 3, 2019, and bond markets will close at 2 p.m. ET. These markets will be closed all day on Thursday, July 4, as will the Federal Reserve Bank. Futures markets will close early on both days.
The market cooled off a bit today. It took the rate hike in stride, for the most part. The surprise and uncertainty will be due to the announcement of additional increases over the next year.
With the upcoming holiday, it's a good idea to know and index how the two major US stock exchanges handle vacation and hours.
NYSE official page: https://www.nyse.com/markets/hours-calendars
NASDAQ official page: http://business.nasdaq.com/discover/events/trading-hours