From Nasdaq:

The S&P 500 hit a record high, signaling a bull market, ending a bear market last October. The tech sector pushed stocks up, including chipmakers Nvidia and AMD. Nasdaq and Dow rose, while exchange volume increased. Interest rate traders predict a 52% chance of a March rate cut, with Wall Street watching for quarterly results.

The Nasdaq and Dow propelled to new highs alongside the S&P 500. The Philadelphia SE Semiconductor index and the S&P 500 technology sector index both soared. Wall Street is monitoring the possibility of a rate cut, which could help sustain the new S&P 500 record level. Nasdaq recorded 97 new highs and 191 new lows.

The S&P 500 experienced solid gains as technology stocks drove the market to record highs. On Friday, Microsoft and Apple rose by more than 1%, boosting market sentiment. The University of Michigan’s consumer sentiment survey painted a positive economic outlook for January, in line with ongoing bullish market sentiment.

Investors are optimistic about stock market performance, assuming companies can justify high valuations in upcoming quarterly reports. The S&P 500 could lose momentum if companies deliver less than expected earnings. Travelers Cos and State Street reported strong performances. Conversely, iRobot slumped almost 27% after news of the EU’s plan to block Amazon’s acquisition of the company. Dow rose 1.05% to 37,863.80 points.

Investors hope earnings from key companies meet high expectations and justify the record level of the S&P 500 stock. Concerns arise if overly bullish sentiment becomes unsupported by guidance from key earnings reports, especially from Tesla and Netflix. Spirit Airlines rebounded 17% after exploring refinancing to address fears of the company’s financial stability.

Closing at 4,839.81 points, the S&P 500 rose 1.23% to a record high on heavy exchange volume. Speculations continued about potential Federal Reserve interest rate cuts, signaling high expectations for market boost. Quarterly earnings results will be closely watched, starting with Netflix’s report on Tuesday. S&P 500 recorded 60 new highs, confirming the sustained positive market sentiment.



Read more: S&P 500 notches first record high close in 2 years; chipmakers soar