The Nasdaq 100 reached a fresh intraday record of 30,607.20 on Tuesday, driven by strength in the artificial intelligence sector. The index rose 0.41% during the session. The Invesco QQQ Trust, Series 1 (NASDAQ: QQQ), which tracks the Nasdaq 100, climbed 0.5% to close at $746.10. The fund's performance contributed to a broader market environment where technology stocks outperformed.
Conversely, financial stocks faced pressure. The Financial Select Sector SPDR Fund (NYSE: XLF) was the session's worst performer, sinking 1.9%. Major banks underperformed the broader market, with JPMorgan Chase & Co. (NYSE: JPM) falling 3.4% and Wells Fargo & Co. (NYSE: WFC) dropping 3.4%.
Separately, Viking Therapeutics Inc. (NASDAQ: VKTX) surged 30.7% after announcing positive results from its VK2735 maintenance study. The company reported that patients switching from weekly to every-other-week dosing preserved up to 97% of prior weight loss.
In other corporate news, AutoZone Inc. (NYSE: AZO) rose 5.8% after reporting quarterly earnings of $56.06 per share, exceeding the $54.51 consensus estimate. On the downside, Planet Fitness Inc. (NYSE: PLNT) slumped 9.9%, continuing a year-to-date decline of more than 55% after the company cut its 2026 outlook.
