Nasdaq Index: Big Tech and Software Deals Drive Fresh Record High

Impact · against what's priced in

The Nasdaq's record high and continued AI-driven momentum provide no new catalyst for Big Tech, as current prices already assume the growth drivers mentioned. However, the rise in Treasury yields to 5.341% creates a headwind for growth multiples that exceeds the macro assumptions already baked into these valuations.

META−0.10

Already priced in

The price assumes

Macro headwinds from high 4.8% Treasury yields

While the rally is positive, the 10-year Treasury yield has climbed to 5.341%, which is higher than the 4.8% yield the price already accounts for, potentially compressing the multiple.