US EditionS&P 500 closes above key 5,000 level for first time
- The S&P 500 closed above the psychologically significant 5,000 mark for the first time, indicating significant market progress and contradicting earlier bear market and recession predictions.
- The tech sector, particularly mega-cap stocks like Nvidia, played a key role in driving the market's upswing.
- Stock earnings have been better than expected, with 81% of S&P companies reporting earnings above their original projections. The "Magnificent Seven" companies, including Nvidia, Microsoft, Meta, Amazon, Apple, Alphabet, and Tesla, have been driving most of the S&P gains.
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Stock market summary - Feb. 9, 2024. Wall Street hits a milestone as the S&P 500 surpasses 5,000 points amid a renewed tech rally and hopes that the Federal Reserve can soon cut interest rates, bolstering corporate earnings prospects. In parallel [...] The stock market euphoria continues as the S&P 500 closes above 5,000 points was first published in El Tiempo Latino.
U.S. stocks end higher, S&P 500 closes above 5,000 for first time ever
NEW YORK, Feb. 9 (Xinhua) -- U.S. stocks ended mixed on Friday, while the benchmark S&P 500 index surpassed the 5,000 level at close, buoyed by robust earnings reports and positive economic updates. Read full story
Stock mania rages on as S&P 500 closes above 5,000
Wall Street notched a milestone, with the S&P 500 topping 5,000 amid a renewed rally in big tech and hopes the Federal Reserve will soon be able to cut rates — bolstering the outlook for corporate profits.
The Standard & Poor's 500 U.S. stock index closed above 5,000 points for the first time on Friday. The profits of companies with large capitalization, such as Nvidia, were to blame for this. Investors were also encouraged by data on strong economic performance and a slight revision to last year's US inflation data, which supported expectations that the US central bank (Fed) would cut interest rates this year.
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