Tech-Heavy Nasdaq Jumps To New Record Closing High
- On Wednesday, the Dow slid 443.87 points or 0.9 percent to 50,906.05 and the S&P 500 fell 19.30 points or 0.3 percent to 7,651.54, though the benchmark index remains about 1% below its August all-time high.
- Rising oil prices up about 14% and a ten-year Treasury yield reaching 5.26% on September 29—its highest level since 2002—pressured most sectors after Fed Chair Kevin Warsh's late August Jackson Hole address prompted hawkish rate expectations.
- Morgan Stanley analysts reported that S&P 500 stocks trading above their 200-day moving average fell to 49% from roughly 75% over the summer, while nearly three-quarters of benchmark stocks declined in September as leadership concentrated.
- Gains in Apple, Nvidia, Alphabet, Microsoft and Meta Platforms masked broader weakness, with the VanEck Semiconductor ETF surging 9.41% on AI demand while Chris Toomey, Morgan Stanley managing director of private wealth management, said investors are "just being more defensive."
- Strategist Michael Wilson advised to "stick with large cap quality and add to riskier stocks in October," citing stronger earnings and lower multiples, while warning that valuation concerns persist under the 5.26% Treasury yield.
43 Articles
43 Articles
The New York square closed with profits, highlighting the technological ones, despite the volatility in the bond market.The Nasdaq reached record levels, reflecting optimism in the AI sector and technology before the results season.
The evolution of the main indices leaves Wall Street high at the start of the week, with Nasdaq presenting the strongest rise among the three major American indices.
New York's main stock indexes closed the high peak on Monday (5), despite the continued progress in US Treasury (Treasuries) securities yields. The stock exchanges were boosted by the technology sector, which led Nasdaq to another record of closure. Still, investors follow the developments of the conflict in the Middle East and the fiscal scenario, amidst concerns about the increase in debt in France and the possibility of contaminating caution …
Reformatorisch Dagblad
welingelichtekringen.nlTech companies were among the winners on the New York stock exchanges on Monday. The enthusiasm for tech stocks briefly pushed concerns about still-high oil prices and bond yields into the background.
Wall Street opens weak. Dow Jones loses 0.07% to 51.143.43 points, Nasdaq climbs 0.25% to 27.261.66 points while S&P 500 advances 0.20% to 7.738.25 points. (ANSA). (ANSA)
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