How much did the NASDAQ 100 gain today?

The index rose 2% to 29,589.50.

What caused today's rebound?

The main reason is renewed buying after Friday's sharp decline, with optimism that the AI stock rally may continue.

What is a 'Summer Melt-Up'?

A term describing the potential for continued market gains during the summer months, driven by optimism and liquidity.

Tech Rally Returns: Is a 'Summer Melt-Up' Underway?

Following a sharp Friday selloff that broke a nine-week winning streak, the NASDAQ 100 bounced back 2% to 29,589.50. The rebound raises questions about whether the AI-led rally is resuming or if it's a temporary bounce.

June 8, 2026

2 min read

Source: 24/7 Wall St.

Key Numbers

nasdaq100 change

+2%

nasdaq100 level

29,589.50

After nine consecutive weeks of gains, the NASDAQ 100 suffered a sharp decline on Friday, raising fears that the AI-driven rally in stocks like NVIDIA (NVDA) and Microsoft (MSFT) might have peaked. However, buying pressure returned strongly today, with the index surging 2% to 29,589.50, and the Invesco QQQ Trust posting a similar gain.

Reasons for the Rebound

The rebound follows Friday's session that broke the long weekly winning streak, prompting analysts to question whether the correction is over. Some observers point to seasonal factors, with the term "Summer Melt-Up" suggesting potential continued upside during the summer months, fueled by investor optimism around artificial intelligence.

Broader Context

Despite the recent dip, major tech stocks remain significantly higher year-to-date, led by NVIDIA and Microsoft. However, some analysts warn that elevated valuations could make the market vulnerable to deeper corrections.

What This Means for Investors

The current rebound may offer an entry point for investors who missed the previous rally, but caution is warranted given high valuations. Monitoring inflation data and upcoming earnings reports will be key to confirming the trend.

Frequently Asked Questions

The NASDAQ 100 includes the 100 largest non-financial companies listed on the Nasdaq, mostly in the technology sector.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.