Investors Cheer Record Nasdaq, S&P 500 Gains While the Gold Price Breaks $4,000
Following a day of market turbulence, gold hit new highs above $4,000, and the Nasdaq and S&P 500 both kept rising to all-time highs...
Quick overview
- Gold surged above $4,000, reaching an intraday high of $4,059.31, driven by geopolitical risks and a weaker U.S. dollar.
- The Nasdaq Composite gained 255.02 points (+1.12%), marking its strongest daily advance since August, led by strong performances in tech stocks like AMD.
- The S&P 500 closed at a record high of 6,753.72, supported by gains in large-cap growth stocks despite broader economic uncertainties.
- The Dow Jones Industrial Average remained flat, reflecting struggles in defensive sectors while the Russell 2000 showed strength in small-cap stocks.
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Following a day of market turbulence, gold hit new highs above $4,000, and the Nasdaq and S&P 500 both kept rising to all-time highs, suggesting that investors are particularly interested in IT businesses.
Gold Breaks the $4,000 Barrier
Spot gold powered above the psychological $4,000 mark, touching an intraday high of $4,059.31 on Wednesday. Buyers remained firmly in control as the precious metal extended its bullish streak, supported by expectations of prolonged geopolitical risks and a weaker U.S. dollar. This surge further highlights gold’s role as a haven asset amid global market volatility.
Nasdaq Leads with Strong Tech Momentum
Tech stocks dominated Wednesday’s action, driving the Nasdaq Composite up 255.02 points (+1.12%). It marked the Nasdaq’s strongest daily advance since August 22, when it gained 1.88%.
Chipmakers were particularly strong, with AMD (NASDAQ: AMD) leading the rally, soaring 11.34% on the day. Over the past week, AMD has climbed an impressive 43.58%, fueled by enthusiasm around its AI-related growth prospects.
S&P 500 Rallies to Another Record
The S&P 500 added 39.13 points (+0.58%) to close at 6,753.72, reaching another all-time high. Gains in mega-cap tech stocks and growth-oriented sectors underpinned the rally, reflecting investor optimism about earnings resilience despite broader macroeconomic uncertainties.
Closing Levels for Main US Stock Indices
NASDAQ Composite:
- Gained +255.02 points (+1.12%) to close higher.
- Marked its biggest daily gain since August 22, when it jumped 1.88%.
- Tech stocks led the rally as optimism grew over AI-related names and easing Treasury yields.
S&P 500:
- Added +39.13 points (+0.58%), finishing at 6,753.72.
- Strength in large-cap growth names supported the broader market.
Dow Jones Industrial Average:
- Eased by just -1.20 points (-0.00%) to close at 46,601.78, essentially flat for the day.
- Defensive sectors held the Dow back compared with the Nasdaq’s tech-driven gains.
Russell 2000 (Small Caps):
- Climbed +25.57 points (+1.04%) to finish at 2,483.99.
- Benefited from a shift into smaller, more domestically focused stocks amid improving sentiment on the U.S. economy.
Market Context
- The Nasdaq’s strong move reflected renewed investor appetite for technology shares, buoyed by stable bond yields.
- Energy and healthcare shares weighed on the Dow, offsetting gains in industrials and tech.
- Small-cap strength in the Russell 2000 hinted at broadening participation in the rally beyond the megacap tech names.
Other Gainers Included:
- Dell, +9.04%
- SMCI +6.56%
- Snowflake, +6.56%
- Micron +5.85%.
- Crowd strike holdings +5.24%.
- Arm, +4.58%
- Robinhood markets, +4.05%
- ARK innovation +3.7%
- Taiwan Semiconductor +3.56%
Dow Struggles to Keep Pace
While tech and growth stocks powered ahead, the Dow Jones Industrial Average barely moved, slipping by 1.2 points (-0.00%) to close at 46,601.78. Defensive sectors and energy names weighed on the index, leaving it trailing behind the buoyant Nasdaq and S&P 500.
Market Sentiment Turns Cautiously Optimistic
The day’s trading reflected renewed investor confidence in tech-driven growth, even as market volatility remained elevated. The combination of gold’s surge and strong equity gains signals a shift toward a risk-on mood tempered by ongoing caution. With earnings season approaching, traders are looking for confirmation that corporate profits can sustain the rally.
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