Stock Market Update: Tech Rally Boosts Major Indexes – Preguider
Today stock market Dow Jones Industrial Average increased by about 140 points, while the S&P 500 rose 0.5% and the Nasdaq jumped 0.7% ¹. The strong performance of chip stocks, particularly Nvidia, which saw a 2.1% increase, and Broadcom, which rose 2.7%, is largely responsible for this surge. Advanced Micro Devices also joined the party with a 2.2% gain.
Better-than-anticipated retail sales data, which show a strong consumer sector in the US, further increased the market’s optimism. Additionally, the Philadelphia Fed Manufacturing Index pointed to a surprisingly high increase in factory activity in the region ¹. Initial jobless claims also dropped to 241,000, beating expectations.
Some other notable performers today include Blackstone, which gained 5.8% after reporting strong earnings, and TSMC, whose US-traded shares rose 9%. Netflix is set to report its quarterly results later today, which could potentially impact the market’s direction.
Here are some key market stats:
- Dow Jones Industrial Average: up 140 points
- S&P 500: up 0.5%
- Nasdaq: up 0.7%
- Nvidia: up 2.1%
- Broadcom: up 2.7%
- Advanced Micro Devices: up 2.2%
