Monday: Last week Wall Street kicked off with a strong start as technology stocks led the way. The Dow picked up 0.5%, the S&P500 improved by 0.8%, and the tech-heavy Nasdaq rose by 0.9%. Optimism was high as investors found renewed confidence in the tech sector, pushing the markets higher across the board.
Tuesday: The momentum from Monday didn’t last, however, as disappointing earnings from ASML Holdings put pressure on tech stocks. This weighed heavily on the market, causing a pullback. By the close, the Dow, S&P500, and Nasdaq had all declined, falling 0.8%, 0.8%, and 1.0% respectively, marking a rough day for the market.
Wednesday: Mid-week brought a fresh wave of positive sentiment, inspired by upbeat earnings from Morgan Stanley. Investors saw this as a signal of strength from the financial sector, lifting the broader market. The Dow surged 0.8%, the S&P500 added 0.5%, and the Nasdaq managed a 0.3% increase, putting the major indexes back on track.
Thursday: Mixed signals dominated the day as hotter-than-expected jobless claims data triggered concerns about interest rates. While the Dow managed to gain 0.4%, the S&P500 finished just below even, and the Nasdaq barely scraped by with a 0.04% increase. The market seemed uncertain, balancing optimism with caution over future rate cuts.
Friday: Earnings season continued to drive the market, with Netflix’s better-than-expected performance lifting investor spirits. Gains in tech shares helped push the major indexes higher once again. The Dow edged up 0.1%, the S&P500 rose by 0.4%, and the Nasdaq climbed 0.6%, capping off the week with a strong finish.
Conclusion: Despite some mid-week turbulence, all three major indexes ended the week in positive territory. The Dow, S&P500, and Nasdaq posted week-over-week gains, buoyed by strong earnings reports from key companies and continued strength in the technology sector.
Stay tuned for our video forecast on the week ahead, where we’ll provide insights and predictions to help navigate the ever-changing landscape of the stock market.
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