The major US indices are closing sharply higher with the NASDAQ index leading the way. A Goldilocks scenario where the growth can continue with hopefully lower inflation help contribute to the buying across the board. The Dow industrial average had its best day since January 6. The S&P index has 4th best percentage gain this year. The NASDAQ index rose 2.25% and traded to the highest level since February 2 (the high price for 2023
The final numbers are showing:
- Dow industrial average rose 546.75 points or 1.65% at 33674.39
- S&P index rose 75.05 points or 1.85% at 4136.28
- NASDAQ index rose 269 points or 2.25% at 12235.40
The Russell 2000 index, small caps rose 41.06.2 or 2.39% at 1759.87. There was a large gain since January 31 when the index rose 2.45%
For the trading week,
- Dow Industrial Average fell -1.24%
- S&P index fell -0.80%
- NASDAQ index closed marginally higher by 0.07%
- Russell 2000 fell -0.51%
upon answer earnings after the close yesterday and its shares rose $7.83 or 4.72% today. Nvidia moved back to the upside with a 4.06% gain. Microsoft gained 1.72%, Adobe rose 3.77% and Tesla gained 5.51%. Disney rose 3.15% and Shake Shack rose 6.51% adding to their sharp gains yesterday after better-than-expected earnings (up 19.65% for the week). Shopify also announced earnings and rose 8.25% today, and 28.03% this week. The Ark Innovation Fund rose 4.62%
On the downside Meta fell -0.32% and Intel fell -0.80%.
