The Nasdaq Composite advanced on February 17, climbing 85.51 points, or 0.38%, to 22,632.18 in afternoon trading. The index rebounded from early-session weakness and steadily moved higher throughout the day, reflecting persistent investor appetite for growth-oriented equities despite mixed macro signals.

With the market open and volumes exceeding 4.6 billion shares, the session underscores how technology-heavy benchmarks continue to attract capital even as volatility indicators and bond yields remain elevated.

Intraday Recovery Signals Resilient Risk Appetite

The Nasdaq opened at 22,394.76 and initially traded lower before reversing course. The day’s range of 22,256.76 to 22,690.83 reflects a constructive rebound pattern, with buyers stepping in during late morning trading and maintaining momentum into the afternoon session.

Technically, the index is trading above its previous close of 22,546.67, signaling short-term strength. Market participants often view such intraday reversals as evidence of underlying demand, particularly when accompanied by broad participation in large-cap technology names. While the index remains below its 52-week high of 24,019.99, it continues to operate in the upper band of its yearly range, suggesting sustained structural momentum.

Average daily volume stands near 8.4 billion shares, and while current turnover remains below that threshold, activity levels are consistent with stable institutional engagement rather than speculative spikes.

Technology Leadership Remains Intact

The Nasdaq’s composition, heavily weighted toward mega-cap technology and AI-linked companies, continues to shape its performance profile. Recent months have seen strong capital inflows into semiconductor, cloud computing, and artificial intelligence-related equities. These sectors have benefited from robust earnings growth and expanding profit margins, reinforcing their dominance within the index.

However, the sustainability of this rally depends on earnings quality and forward guidance. Investors are increasingly focused on revenue durability rather than headline beats. With valuation multiples elevated compared to historical norms, even minor disappointments could generate volatility.

For global investors, including those in Israel who track U.S. tech exposure through international portfolios and ETFs, the Nasdaq’s performance remains a barometer for broader risk sentiment. A stable or rising Nasdaq often correlates with stronger performance across global growth indices.

Macro Backdrop and Volatility Considerations

Despite today’s advance, cross-asset signals remain mixed. Bond markets have experienced fluctuating yields in recent sessions, and currency markets reflect moderate dollar strength. Elevated volatility indicators suggest that investors are not fully complacent.

The Nasdaq’s forward trajectory will depend heavily on macroeconomic data, Federal Reserve policy expectations, and upcoming corporate earnings releases. Inflation data, labor market figures, and corporate capital expenditure plans will shape expectations for both interest rates and growth prospects.

Additionally, geopolitical developments and regulatory scrutiny of major technology firms could introduce episodic pressure. The index’s concentration in a relatively small number of mega-cap names remains both a strength and a vulnerability.

Looking ahead, market participants will closely monitor whether the Nasdaq can sustain levels above 22,600 and test resistance near the upper end of its recent range. Continued earnings resilience and stable interest rate expectations could support further upside, potentially narrowing the gap toward 52-week highs. Conversely, any deterioration in growth forecasts or liquidity conditions may prompt rotation into defensive sectors. As February trading progresses, the balance between momentum-driven gains and macro-sensitive caution will define the next phase for U.S. technology equities.