The Invesco QQQ Trust Series exchange-traded fund QQQ, which tracks the technology-heavy Nasdaq 100 NDX, jumped 2.3% toward a 13-month high in premarket trading Thursday, with a big rally in Nvidia Corp. shares NVDA providing a boost. The QQQs rally comes even as 57 of its components were traded down ahead of the open. Meanwhile, Nvidia’s stock rocketed 29.3% to pace the gainers, which put it on track for the biggest one-day percentage gain since it soared 29.8% on Nov. 11, 2016, after the semiconductor maker’s blow out earnings report. Nvidia was the fourth-highest weighted QQQ component at 5.23% as of March 31. The highest weighted components are Microsoft Corp. MSFT at 12.57%, Apple Inc. AAPL at 12.34% and Amazon.com Inc. AMZN at 6.22%. In Thursday’s premarket, shares of Microsoft rallied 2.9%, Apple tacked on 0.2% and Amazon slipped 0.3%. The QQQs’ rally comes as futures for the S&P 500 gained 0.8%.
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