5 Stocks That Powered Nasdaq ETF's Outperformance Last Week

Market Overview - Wall Street experienced a strong rebound due to signs of de-escalation in the U.S.-China trade war and President Trump's assurance regarding Federal Reserve Chair Jerome Powell's position. The Nasdaq Composite Index led the rally with a gain of 6.7%, while the S&P 500 and Dow Jones increased by 4.6% and 2.5%, respectively [1] Nasdaq Performance - The Nasdaq Index returned to positive territory in April, with the Fidelity Nasdaq Composite Index ETF (ONEQ) and Invesco QQQ (QQQ) both gaining over 9% [2] Key Stocks in QQQ ETF - Five stocks that were at the forefront of the rally include Microchip Technology Inc. (MCHP), Palantir Technologies Inc. (PLTR), Tesla (TSLA), AppLovin Corporation (APP), and Micron Technology (MU) [3][10] Trade Tensions - Reports indicate that China may suspend its 125% tariff on certain U.S. goods, which has positively impacted market sentiment. The potential tariff cuts could affect key sectors such as medical equipment and industrial chemicals [4] Federal Reserve Insights - President Trump clarified that he does not plan to remove Jerome Powell before his term ends in May 2026. Some Federal Reserve officials have indicated a willingness to consider interest rate cuts, with a potential cut as early as June being discussed [6] Earnings Highlights - Netflix (NFLX) reached an all-time high stock price of nearly $1,101, reflecting strong performance and investor confidence [7] - Despite Tesla's disappointing first-quarter results, shares rose after CEO Elon Musk expressed optimism about future goals [8] - Alphabet (GOOG, GOOGL) reported strong first-quarter results, exceeding earnings and revenue estimates, and announced a 5$70 billion stock buyback authorization [8] QQQ ETF Fundamentals - Invesco QQQ tracks the Nasdaq 100 Index, with 59.5% of its assets in information technology and 20.2% in consumer discretionary. The ETF has an AUM of $286.8 billion and an average daily volume of over 63 million shares [11][12] Stock Performances - Microchip Technology (MCHP) saw a stock increase of 21.6% last week, with a slight positive earnings estimate revision [13] - Palantir Technologies (PLTR) stock rose about 20% last week, with an estimated earnings growth rate of 34.1% [14] - Tesla (TSLA) shares jumped 18.1% despite an estimated earnings decline of 22.3% for the year [15] - AppLovin (APP) gained 16.2% with an estimated earnings growth rate of 47.46% [16] - Micron Technology (MU) increased by approximately 16% last week, with an estimated earnings growth of 426.9% for the fiscal year [16]