Nasdaq 100 trading guide: How to trade the Nasdaq 100 index

• What is the Nasdaq 100? 
• Nasdaq 100 constituents 
• How to trade the Nasdaq 100 
• Nasdaq 100 opening hours 
• How is the Nasdaq 100 calculated? 
• What moves the Nasdaq's price? 
• Average returns of the Nasdaq 
• Nasdaq 100 companies list 
• Nasdaq FAQs

What is the Nasdaq 100?

The Nasdaq 100 measures the performance of 100 of the largest non-financial companies listed on the Nasdaq exchange. Since its launch in 1985, it has become a key benchmark for the US technology and growth sectors.  

On the StoneX Trading platform it is known as the US Tech 100. Alongside the S&P 500 and the Dow Jones, it is widely followed as one of the main US equity indices.  

The Nasqaq exchange also includes broader indices such as the Nasdaq Composite, which tracks most listed companies, and the Nasdaq Financial-100, which focuses on financial firms. 

Nasdaq 100 constituents

The Nasdaq 100 is home to some of the largest tech companies on the planet, including: 

• Apple
• Microsoft
• Alphabet 
• Amazon
• Meta
• Paypal
• Adobe
• Tesla

Companies included in the Nasdaq 100 must meet a range of eligibility requirememnts, including listing history, liquidity thresholds, and regular financial reporting standards.  

The index excludes financial institutions and focuses on large, actively traded companies listed on the Nasdaq exchange.  

Constituents are reviewed regularly, meaning the composition of the index can change over time as companies are added or removed.  

The Nasdaq 100 composition as of May 2026 is shown below:

How often do Nasdaq companies change?

The Nasdaq 100 is reviewed and rebalanced regularly, with a full reconstitution taking place each year in December.  

Changes to the index can affect its sector exposure and overall performance, particularly when larger companies are added or removed. Rebalancing periods are often closely watched by traders and investors.  

How to trade the Nasdaq 100?

The Nasdaq 100 cannot be traded directly, as it is an index that  tracks the performance of a group of companies rather than a standalone asset. However, traders can gain gain exposure through a range of instruments, including CFDs, spread betting, futures, and ETFs. 

Nasdaq CFDs 

A Nasdaq CFD is a derivative that tracks the price of the Nasdaq 100.  

It allows traders to take a long or short position on the index without owning the underlying shares.  

Learn more about CFDs.  

Nasdaq spread betting

Spread betting allows traders to take a position on the Nasdaq 100 by staking a fixed amount per point of movement.  

Profit or loss is determined by how far the index moves and in which direction relative to the position taken.  

Learn more about spread betting.  

Nasdaq futures 

Nasdaq futures are contracts that allow traders to speculate on the future price of the Nasdaq 100 at a specified date.  

Pricing reflects market expectations, and positions are settled based on the difference between the contact price and the index level expiry.  

On the StoneX Trading platform, exposure to Nasdaq futures is accessed via CFDs. 

Find out more. 

Nasdaq stocks and ETFs 

Exposure to the Nasdaq 100 can also be gained by trading individual shares listed on the Nasdaq exchange.  

Alternatively, ETFs track the performance of the index, providing broader exposure through a single position.  

Learn more about shares and ETFs.

Nasdaq 100 opening hours

Like other US indices, the standard trading hours of the Nasdaq 100 follow the main US stock exchanges: 9.30am to 4pm (EST) Monday to Friday. Premarket trading can open at 4am, and post-market trading can run through to 8pm. 

With a StoneX Trading account, you can trade the index 24 hours with breaks. 

Learn more about stock market hours. 

How is the Nasdaq 100 calculated?

The Nasdaq 100 is calculated based on the market capitalisation of its participants, in what is referred to as a modified capitalisation-weighted model. 

The value of the index is determined using the aggregate index share weight value of each of the constituents, multiplied by last closing price of each constituent and divided by an index divisor. Each company has a maximum weighting of 24%. 

Find out more about how indices work here. 

What moves the Nasdaq's price?

The Nasdaq 100 is influenced by a range of factors that affect the performance of its underlying companies. 

While broader economic conditions play a role, the index is particularly sensitive to developments in the technology sector, as well as changes in monetary policy and global events. 

Key drivers include: 

1. Monetary policy and economic data 

 Decisions by the US Federal Reserve, particularly around interest rates, can have a significant impact on the Nasdaq 100. 

Lower rates tend to support equity markets by encouraging borrowing, investment and growth, while higher rates can weigh on valuations and economic activity.  

Economic data such as inflation and employment figures are closely monitored, as they can influence expectations for future policy changes. 

2. Technology sector performance  

The Nasdaq 100 has a strong concentration in technology and growth-oriented companies, meaning sector performance plays a central role in index movements. Price changes in large constituents can have a disproportionate impact on the index, particularly during periods of strong or weak performance in the tech sector. 

3. Global events 

 Geopolitical developments and macroeconomic shocks can drive volatility in the Nasdaq 100. Events such as economic downturns, policy changes or global disruptions can influence investor sentiment and lead to sharp movements in the index. 

Nasdaq 100 companies list for 2026

The below chart shows the top 20 companies in the Nasdaq 100, correct as of May 2026.