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
Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or ...
The STOXX 50 went up 0.3% and the STOXX 600 rose 0.2% on Monday, tracking a general positive tone across European equity markets in Asia and the US. Traders were also digesting corporate news and eco...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold its cash rate steady at 3.6%, according to a Reuter...
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also considering President Trump's new wave of tariffs and weake...
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US tariffs and how major European companies should navigat...
Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or 0.2%. The S&P 500 climbed 0.4%, and the...
The dollar weakened on Monday (September 29) amid concerns over a potential government shutdown, with the yen outperforming the euro ahead of a series of US economic data releases that could provide further clues about the direction of Federal...
With US government funding set to expire at midnight on Tuesday, Republicans and Democrats in Congress show no signs of agreeing to a temporary budget fix that would avert a government shutdown. President Donald Trump will meet with congressional...
US President Donald Trump on Thursday announced sweeping new import tariffs, including a 100% duty on brand-name drugs and a 25% levy on heavy-duty...
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also...
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold...