Nasdaq 5 month 8% higher, major indexes close at record highs
U.S. stocks 29posted record highs at Friday’s close. The Nasdaq 5 rose over the month, 8%, while falling oil prices affected the major indexes’ monthly returns. The technology sector led the market higher.
The U.S. stock market 29closed at record highs at the end of Friday’s trading. The major indexes 5 posted gains for the month. The Nasdaq 5 rose over the month by 8%.
Oil prices fell on the day. The decline in oil prices affected some indexes in the monthly return tally. The energy sector underperformed relatively as a result of lower oil prices.
The technology sector led the day’s gains. Large-cap technology stocks contributed to the rise in the indexes. Strength in the technology sector drove the Nasdaq’s monthly advance.
With major indices posting monthly gains,5the month ended broadly higher. Trading concluded on Friday local time. Individual stocks’ contributions varied by index.
Market participants were observed closing or adjusting positions to reflect returns over the month. Some sectors showed a clear divergence in monthly performance. The performance gap between technology and energy was pronounced.
Future index volatility may be affected by economic indicators and corporate earnings announcements. The schedule for next quarter’s earnings announcements remains a focus for investors. Sector performance may vary depending on the data released going forward.
Sources: CNBC Top News
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