An exchange traded fund tracking the Nasdaq-100 soared nearly 2% on Tuesday as bullish investors piled into technology stocks hoping for good news from Greece and the Federal Reserve.
PowerShares QQQ (NasdaqGM: QQQ) was up 1.8% in afternoon trading. Top components posting solid gains on high trading volume included Cisco (NasdaqGS: CSCO), Research in Motion (NasdaqGS: RIMM) and Apple (NasdaqGS: AAPL).
Apple shares are trying to reverse a foray below their 200-day moving average. [Tech Leaders Dog Nasdaq ETF]
“Gains are especially strong on the Nasdaq,” StockCharts.com said Tuesday. Cisco shares rose 2%, RIM rallied 7.5% and Apple gained 3% in recent action.
In precious metals Tuesday, gold and silver ETFs climbed before a key vote in Greece that could make or break austerity measures. [Metals ETFs Trade on Greece, Fed]