The S&P 500 rose to new heights on Friday amid a shortened trading day that will cap a strong month for equities.
The broad S&P 500 added 0.7% and hit a fresh intraday high, while the Nasdaq Composite jumped 0.9%.The Dow Jones Industrial Average
climbed 336 points, or 0.8%, on track for its first-ever close above 45,000.
Some of the upward momentum came from chip stocks, which popped after Bloomberg reported that the Biden administration was considering additional barriers on the sale of semiconductor equipment to China that weren't as strong as previously expected. Lam Research rallied more than 3% while Applied Materials and Nvidia
each jumped more than 2%. The iShares Semiconductor ETF (SOXX)
added more than 1.5%.
To be sure, it was a broad advance that propelled the S&P 500 into uncharted territory. About 4 out of every 5 S&P 500 members, and all 11 of the sectors that comprise the benchmark, headed for gains in the session.
Those moves come as traders look to the end of a winning week and month. November trading largely centered on the postelection rally seen on the back of President-elect Donald Trump's victory.
The Dow has added 1.7% week to date, bringing its gain for November close to 8%. The S&P 500 and Nasdaq Composite have each advanced 1.2% on the week, and are now tracking to end 2024′s penultimate month higher by more than 5% and 6%, respectively. With those gains, the Dow and S&P 500 are both on pace to notch their best months of 2024.(Cay) Newsmaker.id
Source: CNBC
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President Trump's criticism of the Fed and renewed tariff threats....
S&P 500 and Nasdaq 100 futures edged up 0.1% and 0.2%, respectively, on Thursday morning (July 17), while the Dow Jones Industrial Average remained flat. What caused this? Investors were digesting...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings. ...
Gold prices rose on Friday (July 18th), but were on track for a weekly decline as concerns about the US Federal Reserve's independence eased and strong US data emerged, while platinum rose to a nearly 11-year high. Spot gold rose 0.3% to $3,349.49...
Gold prices rose to a new daily high during the European session on Friday (July 18th), continuing their rebound from a low hit more than a week earlier. This increase was driven by a weakening US dollar following dovish remarks from Fed Governor...
The Hang Seng Index surged 327 points, or 1.3%, to close at 24,825 on Friday (July 18th), reversing two days of declines as all sectors rallied. The index hit a four-month high and rose 2.8% for the week, marking its second consecutive weekly...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...