From Nasdaq Inc.:

The S&P 500 hit a record high close with tech stocks adding to gains and investors anticipating upcoming corporate reports for profit outlook clues. Netflix, Tesla, Abbott Laboratories, Intel, and Johnson & Johnson are set to report this week.

Semiconductors and Nvidia also recorded all-time highs, and tech index the S&P 500 was up 0.4%. The Dow Jones Industrial Average rose 0.36%, the S&P 500 gained 0.22%, and the Nasdaq added 0.32%.

Traders are now focusing on May for a 25-basis-point rate cut, according to the CME Group’s FedWatch Tool. Archer-Daniels-Midland fell 24.2% and Gilead fell 10.2% after a drug failure. S&P 500 posted 82 new 52-week highs and 3 new lows.

S&P 500 earnings expected to improve in 2024 as investors wait for reports on personal consumption expenditure index, S&P Global PMI and fourth-quarter GDP for the US central bank’s decision. Volume on US exchanges was 11.86 billion shares. Advancing issues exceeded declining ones on NYSE and NASDAQ.

Credit: Caroline Valetkevitch
Source: Nasdaq.com



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