The S&P 500 briefly topped the 5,000 milestone for the first time ever, with the broad-based index finishing slightly higher at 4,997.91.
The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71. Strong earnings and a continued increase in Megacap technology stocks have boosted the market, but concentrated leadership in 2023’s darlings has been a concern for some investors.
The narrow breadth to renewed uncertainty surrounding rate cuts has led to renewed uncertainty surrounding rate cuts. Disney surged 11.5% after beating quarterly earnings estimates and raising its guidance, while Arm jumped 47.9% after reporting stronger-than-expected earnings and providing an upbeat profit forecast.
Yields rose, with the 10-year Treasury note last at 4.15%, putting some pressure on stocks despite a raft of strong earnings reports that have lifted investor confidence in a robust economy driving corporate profits and growth. The earnings season continues with reports from Expedia, Affirm Holdings, and Take-Two Interactive.
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The S&P 500 briefly topped the 5,000 milestone for the first time ever, with the broad-based index finishing slightly higher at 4,997.91. The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71. Strong earnings and a continued increase in Megacap technology …<\/p>\n","protected":false},"author":13,"featured_media":53440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4707,37,39,36],"tags":[6902,9504,6901,516,10908,7393],"class_list":["post-96720","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-breaking-news","category-forex-markets","category-global-stock-markets","category-market-updates","tag-dow-jones","tag-earnings-season","tag-nasdaq","tag-sp-500","tag-technology-stocks","tag-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=96720"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96720\/revisions"}],"predecessor-version":[{"id":96728,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96720\/revisions\/96728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53440"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=96720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=96720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=96720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}