Major stock indexes including the Dow Jones Industrial Average gained 215.61 points, or 0.8%, to close at 28,645.66. The S&P 500 climbed 0.8% to 3,526.65 and the Nasdaq Composite advanced 1.4% to 11,939.67. Both the S&P 500 and Nasdaq hit all-time highs.
With the Dow measuring the stock performance of 30 large companies listed on stock exchanges in the United States, its rise is an indication that the big market cap companies are headed for a bull run.
The U.S. tech companies have witnessed a mammoth growth over the last decade. The coronavirus pandemic has added more fuel to its growth and the tech sector valuations soar above $9.1 trillion with Apple leading the pack.
All three major U.S. stock indexes ended the week higher than last Friday’s close, which represents the fifth consecutive weekly gains for the S&P 500 and the Nasdaq.
With the new approach to inflation, the Fed aims to support the labor market and broader economy by keeping interest rates lower for a longer period of time.
The tech sector continues to take the markets ahead as indices hit new highs. The U.S. and China have resumed the phase one of the trade talks as the two giant economies plan to come to common grounds with their trade settlements.
Salesforce’s revenue for Q2 2020 jumped 29% beating Street expectations by a good margin. The company has set a new revenue target for fiscal 2021 as it prepares to make an entry at the Dow Jones replacing Exxon Mobil.
The shares of Salesforce.com, Amgen and Honeywell will replace those of Exxon Mobil, Pfizer and Raytheon Technologies respectively in Dow Jones 30 stock listed. The implementation will become effective before the start of trading on August 31.
Wall Street’s most-followed index S&P 500 continues its fourth straight week of rally hitting new record highs on Tuesday. While the stock market surges, analysts remain divided over signs of economic improvement.
The U.S. stock market looks quite optimistic these days. The S&P 500 index bounce is fueled by individual stock performance.
Goldman Sachs strategists have set a new price target for the S&P 500. Up by 20% from its earlier target, the revised target is pegged at 3,600.
Embattled payment service company Wirecard (WDI) is set to be ousted from the DAX index following the company’s declaration of insolvency.
Announcing its stock split, Tesla said that they were looking to make its shares more accessible to employees and small investors.
Following Trump’s newly signed orders, Dow climbed over 350 points while S&P 500 nears an all-time high with its recent gain.
It’s not just Bitcoin that investors have been flocking to. Ethereum is currently worth more than $310, more than double where it started the year.