Nasdaq Composite: Nvidia Rebound and EA Buyout Drive US Indices and Tech Stocks Higher Today

Cannabis stocks made outsized moves, with the AdvisorShares Pure U.S. Cannabis ETF (MSOS) surging 22% after a social media post by Donald Trump supporting cannabinoid use among seniors. Aurora Cannabis jumped 14%. M&A activity was another tailwind—besides EA’s rally, U.S. deal volume has surpassed $1 trillion so far this year, up 29% year-over-year, according to Goldman Sachs.

What Economic Signals Are Shaping Trader Expectations?

August pending home sales rose 4%, far above expectations for flat growth. Mortgage rates eased slightly, helping affordability in key regions like the Midwest. The average 30-year fixed mortgage rate fell from 6.75% to 6.58%, according to Bankrate.

Goldman Sachs upgraded global equities to overweight for the near term, citing strong earnings growth, potential Fed easing, and supportive fiscal policies. While investor sentiment hasn’t fully caught up with equity gains, positioning remains cautious—leaving room for further upside if economic data holds steady.

Where Is the Market Headed Next?

With AI stocks regaining ground and economic data offering upside surprises, the Nasdaq is tracking toward a solid monthly performance, up 5% so far.