🔴 QQQ is trading 1.7% down today as SpaceX addition triggers index rebalancing and tech sentiment cools

QQQ is trading at $710.57 (-1.70%) as the Nasdaq-100 faces pressure from index rebalancing flows following SpaceX’s addition to the benchmark.

• The inclusion of SpaceX is triggering shifts in passive buying within the index, leading to significant rebalancing flows.
• Broader tech sentiment is cooling, with the Nasdaq Composite falling 1.04% ahead of the upcoming Fed minutes.
• Growth-oriented sectors remain sensitive to AI-sector positioning and macroeconomic uncertainty.