Major US indices closed sharply higher with the Nasdaq leading the way. A Goldilocks scenario where growth can continue with low inflation hoping to contribute to buying across the board. The Dow Jones Industrial Average had its best day since January 6th. The Standard & Poor’s Index had the fourth best percentage gain this year. The Nasdaq rose 2.25% and traded to the highest level since February 2 (2023 high).
The final figures show:
- The Dow Jones Industrial Average rose 546.75 points, or 1.65%, to 33,674.39.
- The Standard & Poor’s Index was up 75.05 points, or 1.85%, at 4,136.28.
- The Nasdaq was up 269 points, or 2.25%, at 12,235.40
The Russell 2000 Small Business Index rose 41.06.2, or 2.39%, at 1,759.87. There have been significant gains since January 31, when the index rose 2.45%.
for the trading week,
- The Dow Industrial Average fell -1.24%
- The S&P fell -0.80%
- The Nasdaq closed marginally higher by 0.07%.
- Russell 2000 fell 0.51%.
When answered, his earnings rose after yesterday’s close and his shares are up $7.83, or 4.72%, today. Nvidia returned to the upside with a gain of 4.06%. Microsoft gained 1.72%, Adobe 3.77% and Tesla 5.51%. Disney stock rose 3.15% and Shake Shack rose 6.51% adding to yesterday’s sharp gains after better-than-expected earnings (up 19.65% for the week). Shopify also reported earnings and is up 8.25% today, and 28.03% this week. Ark Innovation Fund rose 4.62%
On the downside Meta fell -0.32% and Intel -0.80%.