India, July 30 -- The NASDAQ Composite Index is trading sharply higher at 24,932.97, climbing 2.00% (up 490.03 points) as Wall Street stages a strong rebound. The market rebound today is a direct response to Microsoft's stronger-than-expected earnings and macro data that leaves a September Federal Reserve interest rate cut highly probable. The NASDAQ Composite jumped 2.07% to 24,949.82, breaking away from a sharp selloff yesterday sparked by macro uncertainty.

Market Snapshot

Nasdaq-100 index: Trading at 27,889.34, surging 2.56% (+697.04 points).

Daily trading range: Fluctuation spans from an intraday low of 24,813.84 to a high of 25,112.21.

Total volume traded: Reached 3,197,443,729 shares changing hands.

NASDAQ Today: Key Market Dr...