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S&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.
The Korea Times+9 Reposted by 9 other sources
Wall Street waltzes past its latest milestone as S&P 500 closes above 5,000
More gains for U.S. stocks on Friday sent Wall Street to its latest record, milestone and winning week.
·Seoul, Korea (the Republic of)
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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
·Petaling Jaya, Malaysia
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Coverage Details
Total News Sources31
Leaning Left7Leaning Right4Center16Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 26%
C 59%
15%
Factuality
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