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Tech Sector Helps S&P 500 Shoot to All-Time High

Thanks to Nvidia’s gains, the S&P 500 was able to achieve an all-time high on Thursday.

The tech sector was elevated, enabling S&P 500 to climb 1.81% and achieve 5,072 points. That is up 91 points from the previous day, and it benefited from positive earnings reports and sales forecasts from tech companies like Nvidia.

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Out of the 500 stocks listed on the index, Nvidia and Moderna stood out the most, both with gains of over 14%. Advanced Micro Devices followed close behind with an increase of 10%.

Multiple tech companies saw impressive gains today, and Nvidia in particular is doing well as it continues its winning streak. We predicted the stock market would keep pressing up as the market surged Wednesday just before the market closed. We expected to see that momentum carry through today and keep interest high in the market, which is exactly what happened.

The Nasdaq Composite gained 2.76% for Thursday, and the Dow Jones achieved a new all-time high of 38,962. The Dow Jones Industrial Average managed to gain 0.91%, or 352 points

The Market Keeps on Rising

At press time, the market was still ticking upward and may continue to do so until the close of trading today. It is possible that we will see a new record high for Friday off the back of the high trade volume for Thursday.

Tech names like Amazon, Meta, Microsoft, and Netflix are all helping to keep the stocks high. Several of these companies released earnings reports recently that showed strong performances, and many of them saw gains of over 1% today.

Over the last year, the S&P 500 has grown by 26%. With economic indicators looking mildly positive, we expect those numbers to get even better this year. This index is up 11.46% for the last three months as well, and today’s gain is promising for those hoping to see the stocks keep rising.

 

 

 

 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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