The Nasdaq Marketsite is seen during morning trading on April 7, 2025 in New York City.\u00a0<\/p>\n
Michael M. Santiago | Getty Images<\/p>\n
The Nasdaq Composite<\/a> was an overachiever last week. After ending Friday higher \u2014 outperforming the S&P 500<\/a> and Dow Jones Industrial Average<\/a>, both of which closed in the red \u2014 the tech-heavy index officially had five straight days of all-time closing highs.<\/p>\n On a weekly basis, the Nasdaq Composite, with its 2% advance, also pulled ahead of the S&P 500’s 1.6% increase and the Dow Jones Industrial Average’s 1% rise.<\/p>\n Given the Nasdaq Composite’s moniker as the “tech-heavy index” (much favored by financial writers who have to come up with many ways to describe it), there’s little surprise in saying that technology companies were the main engine for its finish at the top of the podium.<\/p>\n But it’s not just any tech. OpenAI seemed to be behind much of the market’s rise, suggesting the artificial intelligence narrative is still compelling to investors. Shares of Oracle<\/a> soared last week largely because of a deal it had made with the artificial intelligence firm<\/a>; companies associated with it, such as Broadcom<\/a> and Nvidia<\/a>, have also had their share prices lifted previously.<\/p>\n With a rate cut by the U.S. Federal Reserve all but certain to come this week \u2014 which would especially benefit cash-burning<\/a>, debt-ridden, yet-to-be-profitable tech startups like OpenAI \u2014 the youngest of the three major U.S. indexes might continue to outshine its siblings in the near term.<\/p>\n What you need to know today<\/p>\n U.S. and China discuss trade deal in Spain. On Sunday, officials from both countries arrived in Madrid to begin a round of discussions on their trade partnership and divestment plans for TikTok<\/a> \u2014 the first time the app’s come on the agenda.<\/p>\n China’s economic slowdown deepens. The country’s retail sales and industrial output declined in August and fell short of estimates<\/a>, while growth of fixed-asset investments declined on a year-to-date basis.<\/p>\n Europe’s initial public offering market lags behind. When Sweden’s Klarna<\/a> chose to list in New York instead of Europe, it was a sign of how much the continent was being eclipsed by the U.S. and Asia<\/a> for companies looking to go public.<\/p>\n Nasdaq Composite has a perfect week of record highs. The tech-heavy index rose 0.44% on Friday, sealing its unblemished run<\/a> for the week. South Korea’s Kospi<\/a> index touched a record high<\/a> early Monday as the government reversed its tax-hike plan.<\/p>\n [PRO] Fed meeting the marquee event for this week. Investors are expecting the U.S. central bank to lower interest rates at their meeting this week, which concludes on Sept. 17. That move could turbocharge stocks<\/a>.<\/p>\n