With the tech & AI momentum, will the NASDAQ, now just around 26,000, close the week above 27,000?
70% of users predicted NO — the community got this one right. 40 predictions cast.
The Nasdaq Composite closed at 24,975.82 on Friday, July 24, 2026, down 0.64% on the day and roughly 2% for the week, finishing well short of the 27,000 mark. All three major U.S. indexes posted weekly losses, driven by elevated oil prices tied to Middle East tensions and a selloff among chipmakers.
The index had set an all-time closing high of 27,086.81 on June 1, 2026, meaning it would have needed to reclaim roughly 8% from Friday's close just to match that peak, a bar the tech-heavy gauge came nowhere near during the week in question. Rising energy costs pressured margin expectations across sectors, while investors rotated out of high-multiple technology names amid renewed volatility.
The community correctly called this one: only 30% of predictors expected the Nasdaq to close the week above 27,000, and the large majority who bet against it were right. The result reflected a broader pullback in tech and AI-related momentum trades that had driven markets higher earlier in the year, as oil-price shocks and chip-sector weakness took precedence over the AI rally narrative for the week.