S&P 500, Nasdaq Crawl Higher As US Retail Sales Calm Fears
S&P 500 and Nasdaq are looking bullish once again after putting a new record high yesterday, with the IMF projections helping the sentiment.
US indices such as S&P 500 and Nasdaq are looking bullish once again after putting a new record high yesterday, with the IMF projections helping the sentiment. US stock markets opened with a gap higher once again today, continuing the upside momentum after the positive IMF economic revisions and higher US retail sales figures for June.
The small-cap Russell 2000 is once again at the forefront with a gain of over 1.40% as major US stock indices continue their upward momentum. The trend favoring smaller capitalization stocks persists, likely driven by the Trump/Vance ticket, which is seen as beneficial for small and medium-sized businesses due to its focus on deregulation and the central US states where most of the US industry is located, known as Rust Belt.
S&P 500 Chart Daily – Buyers Keep Pushing to New Record Highs
Additionally, today’s US retail sales data for June surpassed expectations and included positive revisions from the previous month. The market is optimistic about faster growth, provided it doesn’t spur inflation, and appreciates the prospect of a significant Fed rate cut.
Snapshot of the US Major Stock Indices:
- Dow Jones Industrial Average: Up 229.95 points or 0.57% at 40,441.68 points
- S&P 500: Up 19 points or 0.35% at 5,650.37 points
- NASDAQ: Up 84 points or 0.40% at 18,549 points
- Russell 2000: Up 30 points or 1.40% at 2,220 points
Tech giants are once again at the forefront, while industrial sectors are lagging behind. Today’s stock market presents a striking contrast, with significant gains in the digital and consumer sectors juxtaposed against declines in some traditional industries. Investors are particularly focused on Tesla and Amazon, reflecting their confidence in the tech and consumer-driven economies.
Amazon (AMZN) has surged by an impressive +1.30%, possibly driven by positive investor sentiment or favorable market news. Tesla (TSLA) has seen a notable increase of 2%, highlighting its strong performance in the auto manufacturing sector, fueled by innovative advancements and environmental considerations. This divergence underscores the shifting landscape of the market, where technological innovation and consumer demand are becoming increasingly pivotal.
S&P 500 Live Chart
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