India, July 2 -- The Nasdaq Composite (^IXIC) opened higher on Wednesday, July 2, buoyed by cooler-than-expected U.S. economic data that initially lifted investor sentiment. However, the rally quickly lost steam as traders booked profits in high-growth technology stocks, pushing the index into negative territory during intraday trading.

At the latest check, the Nasdaq Composite was trading at 25,982.38, down 57.65 points (-0.22%) after opening at 26,047.38. The pullback reflects continued caution around elevated tech valuations despite optimism over easing inflation and improving geopolitical developments.

Nasdaq US Stock Market Today: Market Snapshot

The Nasdaq initially moved higher following encouraging economic data but later turne...