Steady Buying Propels Nasdaq and Dow to Strong Weekly Close, New Records
U.S. equities capped another strong week, with both the Dow and Nasdaq climbing to fresh highs as late buying reinforced investor optimism..
Quick overview
- U.S. equities experienced a strong week, with the Dow and Nasdaq reaching new record highs amid late-session buying.
- The S&P 500 closed at 6,660, reflecting a remarkable recovery from its financial crisis low, while the Nasdaq led gains with a 2.2% weekly rise.
- Investor optimism remains strong despite concerns about the Federal Reserve and economic conditions, bolstered by positive developments in global trade.
- The Dow's steady gains alongside the Nasdaq's momentum indicate broad confidence in the U.S. economy and market resilience.
U.S. equities capped another strong week, with both the Dow and Nasdaq climbing to fresh highs as late buying reinforced investor optimism heading into the final stretch of September.
Market Momentum Builds
The U.S. equity market’s September performance has been nothing short of remarkable. A new wave of late-session buying lifted major indices to fresh record highs, underscoring continued confidence in both growth and blue-chip names. The S&P 500 closed at 6,660, adding 28 points (+0.4%), a level that is astonishingly ten times higher than its financial crisis trough.
Despite lingering concerns about the Federal Reserve’s stance and broader economic conditions, bulls have maintained control throughout the month. Traders shrugged off macro uncertainty and instead focused on constructive developments in global trade. Comments from former President Trump hinting at a more cooperative tone with China’s Xi, alongside Canada’s trade chief confirming plans to meet with U.S. officials, added to the positive backdrop.
Closing Levels – U.S. and Canadian Indices
- S&P 500: closed at 6,664.36, up +32.40 points (+0.5%).
- Nasdaq Composite: ended at 22,631.48, gaining +160.75 points (+0.7%).
- Dow Jones Industrial Average (DJIA): settled at 46,315.27, up +172.85 points (+0.4%).
- Russell 2000: slipped to 2,448.77, down −18.93 points (−0.7%).
- Toronto TSX Composite: advanced to 29,768.36, climbing +314.83 points (+1.0%).
Weekly Performance Snapshot
- S&P 500: up +1.2% on the week.
- Nasdaq Composite: led gains with a +2.2% weekly rise.
- Dow Jones: gained +466.79 for the week, or +
- Russell 2000: also posted a +2.2% weekly advance despite Friday’s pullback.
- Toronto TSX Composite: higher by +1.6% for the week.
Nasdaq Leads with Tech Strength
The Nasdaq Composite once again stood out, driven by strong appetite for technology and growth stocks. Its consistent gains highlight the market’s ongoing preference for high-growth sectors, even in the face of macroeconomic risks. For many investors, the Nasdaq’s resilience serves as a signal that sentiment remains firmly tilted toward innovation-driven names.
Dow Reflects Steady Optimism
The Dow Jones Industrial Average (DJIA) also advanced, showing that optimism is not confined to technology. Industrial and blue-chip stocks continued to attract buyers, reflecting broader faith in the U.S. economy’s capacity to weather uncertainty. Together, the Dow’s steady gains and Nasdaq’s sharp momentum painted a picture of confidence across market segments.
Outlook: Bulls in Control
With the Russell 2000’s weekly advance highlighting small-cap resilience and the Toronto TSX Composite rally showing strength in Canadian equities, North American markets ended the week on firm footing. While risks from monetary policy and geopolitical tensions remain, the sustained uptrend suggests that investor appetite for equities is far from exhausted.
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