Saturday, July 20, 2024
-Advertisement-
Digital Senate
Digital Senate
Digital Senate
Digital Senate
HomeNewsEnterprise ITNasdaq logs new all-time high on the back of tech stocks

Nasdaq logs new all-time high on the back of tech stocks

Follow Tech Observer on Google News

The tech stocks at New York Stock Exchange are reported to have swelled amid fears over the third Covid-19 wave hitting across Asia soon

Google News

Riding high on , the American stock exchange, on Monday jumped to an all-time high. The tech stocks at are reported to have swelled amid fears over the third Covid-19 wave hitting across Asia soon.

Among the top gainers, stay-at-home winners including Corp, Apple Inc, .com Inc and Nvidia Corp gave the biggest boosts to the S&P 500 and the Nasdaq. In contrast, reopening sectors dropped sharply – financials, energy and airlines fell between 1.2% and 3.5%. All major S&P sectors fell, except technology and utilities which gained 1.1% and 0.8%.

The S&P 500 on Friday logged its best weekly performance in 20 following a bipartisan agreement on a $1.2 trillion infrastructure spending deal and waning concerns about a sooner-than-expected policy tightening from the Federal Reserve.

Both the S&P 500 and the Nasdaq had hit a series of record highs last week. But the tech-heavy Nasdaq's 5% gain is outpacing its peers in June as investors pile back into tech-oriented growth stocks on waning worries about runaway inflation.

Meanwhile, with the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.

On the economic front, attention will be on consumer confidence data, a private jobs report and a crucial monthly employment report. Quarterly results from Micron Technology and Walgreens are also slated for this week.

Declining issues outnumbered advancers by a 1.8-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 29 new 52-week highs and no new low, while the Nasdaq recorded 183 new highs and 22 new lows.

Get the day's headlines from Tech Observer straight in your inbox

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
Tech Observer Desk
Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
- Advertisement -
Bitcoin 2024
Bitcoin 2024
Bitcoin 2024
Bitcoin 2024
- Advertisement -Digital Senate
- Advertisement -Education Sabha
- Advertisement -Bitcoin 2024
- Advertisement -ESDS SAP Hana

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -

Amazon Prime Day 2024 brings major discounts and new launches

Amazon Prime Day 2024 offers discounts across categories including Smartphones, TVs, Appliances, Fashion & Beauty essentials, Groceries, Amazon Devices, Home & Kitchen, Furniture, and Everyday Essentials.

RELATED ARTICLES