S&P 500 And Dow Reach Record Highs With An Emphasis On Technology And Retail.

(VOR News) – Retail took centre stage as the Christmas shopping season began, but the S&P 500 and the Dow Jones Industrial Average also reached record closing highs during a brief Black Friday session. The outstanding performance of tech stocks like Nvidia was a major factor in this.

Manufacturers also contributed to the success of the blue-chip Dow and the benchmark S&P 500. These businesses are in the field of information technology.

Tesla had a 3.7% increase, while NVIDIA saw a 2% increase.

The reaction of consumers to the high Black Friday prices was widely observed by investors. Adobe Analytics predicted a 9.9% increase in consumer spending on online products, reaching a record $10.8 billion, compared to Black Friday the previous year.

The S&P 500 stocks of Macy’s and Target both increased 1.8%.

The S&P 500 index increased by 0.56% to reach 6,032.44 points after hitting an intraday record high of 6,025.42 points on November 26th. The Dow Jones Industrial Average is currently at 44,910.65 points, up 0.42%. The Nasdaq increased by 0.83% to 19,218.17 points.

“A significant amount of imports are handled by retailers. Ross Mayfield, an analyst at Baird, contends that “because inventory levels are very important to their profitability and ability to kind of control margins, they will be one of the industries that will be caught in the crossfire of tariffs.”

“But so far… (things are)… looking pretty solid for the Black Friday, Cyber Monday sale.”

The Philadelphia SE Semiconductor index increased 1.5% as chip makers recovered from Wednesday’s losses.

The performance of the small-cap Russell 2000 index increased by 0.4% as Treasury bond yields continued to fall from multi-month highs.

Wall Street’s major indices closed down on Wednesday, with the Nasdaq leading the decline. This resulted from concerns that the Fed could be hesitant to drop interest rates in response to the United States’ continuously high inflation figures, which had decreased on Thanksgiving Eve.

The most recent spike in the S&P 500 stock market was caused by Donald Trump’s victory in the US presidential election earlier this month. His Republican Party also gained majorities in both chambers of Congress as a result of this triumph.

The stock’s worth was determined by taking into account investors’ expectations that Trump’s pro-business policies would increase company profits and economic development. On the other hand, there was widespread worry that they could impact global economic growth, slow down the rate at which the Fed is reducing interest rates, and lead to inflation.

According to FedWatch, a publication of the CME Group, traders anticipate that the Fed will reduce borrowing costs by 25 basis points at its December meeting but will halt rate cuts in January.

S&P 500 bitcoin stocks jumped 1.9%, boosting MARA Holdings.

Following the US Food and Drug Administration’s decision to deny approval of Applied Therapeutics’ medication for the treatment of a rare genetic metabolic disorder, the company’s stock price fell 76%.

On the New York Stock Exchange, decliners were dominated by forward-moving products by a ratio of 2.46 to 1. There were 386 new highs and 63 new lows on the New York Stock Exchange.

The Nasdaq Composite hit 116 new highs during the same time period, while the S&P 500 saw 31 new 52-week highs overall and no new lows.

The volume of shares traded on American exchanges during a shortened trading week was 8.15 billion, significantly less than the average volume of approximately 15 billion shares moved during full sessions over the previous 20 trading days.

The S&P 500 index increased by 1.06%, the Nasdaq by 1.13%, and the Dow by 1.39% throughout the week. The Russell 2000 Small Cap index increased 1.48 percent after setting a record high earlier in the week.

SOURCE: USN

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