- November 21, 2024
- 1 second ago
IXIC: Tech Shares Get Their Edge Back as Nasdaq Pops 1% to Steer Broad Upside Swing
Technology companies had a field day after not getting much love in the past few sessions. Also, Dow and S&P 500 hit a record.
The Nasdaq Composite
IXIC
leaped 1% on Wednesday to steer a broad-based rally across stock corners. Shares of technology companies were back in fashion after not getting much love in previous sessions. Meta
META
, Microsoft
MSFT
, and Nvidia
NVDA
gained 2% or more each.
Investors were once again bold enough to bet against the Fed after the central bank already communicated it won’t rush to cut interest rates. Against this backdrop, the other two major indexes notched gains as well. Records, even. The Dow Jones Industrial Average pumped 156 points, or 0.4%, to a record high of 38,677 points.
The S&P 500 jumped 0.8% to wrap up at 4,995. It was the diverse index’s eighth record close this year. Next up, markets are drooling over the milestone of 5,000 – unseen territory that will get traders’ dopamine levels surging as they humblebrag about their 0DTE options while downing a mezcal espresso martini and shaking on the inside. “Called it.”
