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Nasdaq 100 consolidates outside day reversal into the yearly close

The Nasdaq 100 was the weakest of the three major US stock markets indexes, as it further extended the mildly technically negative close from the night before. The Nasdaq 100 dropped back to a low at 16,757, before later recovering some of that loss, to close the year out at 16,825. That was a 72 point lower close from the day before, but still meant the index held most of its record gains ahead of the New Year. The Nasdaq 100 had peaked earlier in the week at 16,969. Of  course it was also the highest annual close on record for the Nasdaq 100 and one that pushed the current P/E ratio close to 33. That compares to P/E ratios for the Dow Jones of 22 and close to 23 for the S+P 500. There will be more to add about those statistics for all three indexes later today. Meantime, the Nasdaq 100 futures have struggled for traction in Asian trading so far today, so that right now the index is priced to reopen not much removed from where it closed out 2023, currently at around 16,825
 

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