纳斯达克100指数日内涨幅收窄至1%以下，此前涨幅一度达2.4%。 来源：滚动播报 ...

Core Viewpoint - Multiple QDII funds tracking the Nasdaq 100 Index, including the Invesco Nasdaq 100 ETF, Huaxia Nasdaq 100 ETF, and Huatai-PB Nasdaq 100 ETF, have issued premium risk alerts due to significant trading prices in the secondary market exceeding the reference net asset value of the funds [1] Group 1 - The announcement highlights that the trading prices of the related funds are significantly higher than their reference net asset values, indicating a substantial premium [1] - Investors are advised to pay attention to the premium risk associated with the trading prices in the secondary market [1]

Core Insights - The total trading volume of Nasdaq 100 Index ETFs reached 7.193 billion yuan today, an increase of 2.075 billion yuan from the previous trading day, representing a growth rate of 40.54% [1] Trading Volume Summary - The GTAA Nasdaq 100 (QDII-ETF) (513100) had a trading volume of 1.637 billion yuan, up 649 million yuan from the previous day, with a growth rate of 65.68% [1] - The GF Nasdaq 100 ETF (159941) recorded a trading volume of 2.052 billion yuan, an increase of 494 million yuan, with a growth rate of 31.71% [1] - The CMB Nasdaq 100 ETF (QDII) (159659) saw a trading volume of 692 million yuan, up 337 million yuan, with a growth rate of 94.89% [1] - The top increases in trading volume were seen in the CMB Nasdaq 100 ETF (QDII) (159659) and the HTF Nasdaq 100 ETF (159660), with increases of 94.89% and 86.47% respectively [1] Market Performance - As of market close, the average decline for ETFs tracking the Nasdaq 100 Index was 3.56%, with the largest declines recorded by the HTF Nasdaq 100 ETF (159660) and the CMB Nasdaq 100 ETF (QDII) (159659), which fell by 4.99% and 4.08% respectively [1]

Core Viewpoint - The article discusses the perceived "bubble" in the Nasdaq 100 index, arguing that the index's performance is primarily driven by substantial earnings growth rather than inflated valuations [3][4][5]. Valuation and Earnings Growth - The Nasdaq 100 index currently has a five-year PE ratio of 36.8, which is above the median of 34.4, indicating a relatively high valuation [8]. - The total profit of Nasdaq 100 constituents grew from $256.5 billion in the first three quarters of 2020 to $718.2 billion in 2025, representing a 180% increase, while the index itself rose approximately 170% [9][10]. - The article emphasizes that if only valuation were considered, the Nasdaq should have been sold off five years ago, but the sustained high valuation has been justified by significant earnings growth [10][11]. Performance of Individual Stocks - A detailed analysis of individual stocks within the Nasdaq 100 shows remarkable profit growth over five years, with companies like Nvidia achieving a 3400% increase in net profit, and Tesla seeing a 1500% increase [15][16]. - Other notable performers include Apple (82%), Microsoft (119%), and Amazon (353%), indicating that many tech companies have thrived due to continuous innovation and investment [15][16]. Factors Behind Strong Performance - The article attributes the strong performance of U.S. tech stocks to a combination of technological innovation and a robust business model that generates recurring cash flow [19][20]. - The presence of a protective environment for private property and patents in the U.S. has facilitated significant returns on new industry investments, reinforcing the success of the tech sector [21]. AI and Future Outlook - The discussion raises the question of whether AI represents a bubble, suggesting that those at the forefront of AI technology are unlikely to view it as such due to its vast potential applications [22][23]. - The article warns that while the current tech revolution is significant, historical patterns indicate that growth cycles will eventually slow, leading to potential declines in both growth rates and stock valuations [24][25].

Group 1 - The S&P 500 futures rose by 0.29% at the end of trading on Friday, October 31 [1] - The Dow Jones futures increased by 0.15% [1] - The Nasdaq 100 futures gained 0.44% [1] - The Russell 2000 futures saw a rise of 0.50% [1]

Core Points - The S&P 500 and Nasdaq 100 indices continued their downward trend, reaching intraday lows, with the S&P 500 index dropping over 1% [1] Group 1 - The S&P 500 index experienced a decline of more than 1% during the trading session [1] - The Nasdaq 100 index also followed a similar downward trajectory, indicating a broader market trend [1]

Group 1 - The S&P 500 and Nasdaq 100 indices have continued their downward trend, reaching intraday lows [1]

（文章来源：每日经济新闻） 每经AI快讯，纳斯达克100指数抹去跌幅，触及盘中高点。 ...

Group 1 - The Nasdaq 100 index increased by 1% [1] - The Russell 2000 index rose by 1.5% [1]

每经AI快讯，10月10日，纳斯达克100指数下跌2.4%，创下4月30日以来最大跌幅。 ...