Nasdaq 5month 8% rise, major indexes close at records amid tech-stock rally
U.S. stocks extended their 5month gains on Friday as technology shares rallied. On Thursday, the Dow, S&P500 and Nasdaq, the three major indexes, all closed at new record highs.
U.S. stocks added to their 5month gains on Friday, buoyed by a rally in technology shares. The Nasdaq was up 5month to date by 8%. The indexes continued to rise through the market close.
On Thursday, the Dow, S&P500, and Nasdaq, the three major indexes, all closed at new record highs. The records were based on the closing prices that day. The three indexes reached records together as the technology sector strengthened.
The technology-sector rally lifted indexes broadly. Buying in large-cap technology stocks was observed to lead the advance. This trend 5contributed to the monthly return for the month.
Financial market participants were found to have maintained a technology-stock-focused positioning in Friday’s trading. The closing high is used as a short-term gauge of investor interest. The related data reflect the market’s preference for technology stocks.
As of this weekend, 5month-to-date returns have been shaped by the influence of technology stocks. Upcoming daily earnings reports and economic indicators could further affect market trends. Investors should check the release schedule and results.
Sources: CNBC Top News
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