According to the latest market data, as of November 21, 2025, the NASDAQ Composite Index (code IXIC) is approximately 22,788.98 points, up about 0.70% from the previous trading day. Recent performance shows that the index has maintained a strong growth trend over the past week, month, and three months, with an increase of about 6-7% over the past month and a more significant cumulative increase over the past three months.
Recently, market momentum has primarily come from the leading technology stocks, especially Nvidia, which continues to demonstrate strong competitiveness in artificial intelligence and chip technology, driving related stock prices higher. In addition, the stable stock prices of large technology companies like Apple have supported the overall index. Furthermore, the expected interest rate cuts from the Federal Reserve have boosted investor confidence, prompting further increases in the valuations of growth-oriented technology stocks.
However, investors should also be alert to the risks brought by high valuations. The price-to-earnings ratio of technology stocks is at a high level, and if earnings do not meet expectations, it may trigger a correction; at the same time, if the Federal Reserve adjusts monetary policy or there are changes in interest rates, it will also affect the funding costs of high-growth stocks. In addition, macroeconomic factors including inflation, employment data, and geopolitical factors may all lead to market volatility.
Novice investors should pay attention to several methods for judging market trends, including monitoring trading volume, technical breakthroughs, and policy trends. When the index is rising with increased volume and breaks through key highs, it indicates a more reliable upward trend. If the policy environment improves, such as in the case of interest rate cut expectations, technology stocks become more attractive, but if the trend reverses, one must remain vigilant.
Overall, the recent Nasdaq index has shown strong momentum, mainly driven by technology stocks and policy expectations, but high valuations and potential policy risks should still be noted. Investors are advised not to blindly chase higher prices, but to operate cautiously by considering various signals.
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