Nasdaq-100 Holds Near Flat as Large-Caps Dominate During Pandemic

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Despite the recent turmoil in the markets caused by the novel coronavirus, the Nasdaq-100 (NDX) is holding near flat, which is due to the strength of some of its large-cap components, particularly the tech stocks.

“There are companies in the NDX that are crushing it,” CNBC’s Jim Cramer said Tuesday on “Squawk on the Street.”

Cramer said that while he “never wanted” Amazon (AMZN) to make up 7% of his charitable trust, he doesn’t want to sell because “it’s fantastic.” Amazon reached a new all-time high on Tuesday as consumers continue to turn to the e-commerce giant for goods and services amid the pandemic. Cramer also called out the recent performance of Costco (COST) and Microsoft (MSFT).

Still, Cramer acknowledged a significant imbalance between the big companies that are performing well and the many others that are not.

The NDX is down less than 1% year to date, while the S&P 500 (SPX) has fallen about 14%. The Nasdaq-100, which is comprised of the 100 largest domestic and international non-financial companies listed on Nasdaq, has outperformed the S&P 500 10 out of the last 12 years.

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