Nasdaq notches record high close as investors focus on earnings
The Nasdaq achieved a record high close, driven higher by gains in megacap technology companies including Nvidia and Microsoft. Wall Street indices advanced alongside the tech sector rally as market participants shrugged off bond market caution and focused on approaching quarterly corporate earnings reports. The session also benefited from a decline in oil prices, which helped ease broader economic worries. Meanwhile, Asian shares moved higher as reduced concerns over inflation lowered expectations for another Federal Reserve rate hike.
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- ✓ The Nasdaq notched a record high close, lifted by gains in Nvidia and Microsoft.
- ✓ The Nasdaq gained 1.05% to 27,477.31 points.
- ✓ The S&P 500 climbed 0.66% to end the session at 7,773.95 points.
- ✓ Oil prices dipped as investors looked ahead to quarterly corporate earnings reports.
What changed
The Nasdaq closed at a record high following gains propelled by Nvidia and Microsoft.
Live updates
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Nasdaq Hits Record High Close As Tech Rally Lifts Wall Street
The Nasdaq achieved a record high close, driven higher by gains in megacap technology companies including Nvidia and Microsoft. Wall Street indices advanced alongside the tech sector rally as market participants shrugged off bond market caution and focused on approaching quarterly corporate earnings reports. The session also benefited from a decline in oil prices, which helped ease broader economic worries. Meanwhile, Asian shares moved higher as reduced concerns over inflation lowered expectations for another Federal Reserve rate hike.
Why it matters
Equity markets have balanced shifting inflation indicators against robust performances from major technology names. While stock futures turned flat in subsequent sessions as investors digested higher yields and awaited upcoming Federal Reserve meeting minutes, the initial tech-led surge demonstrated strong underlying momentum. Declining oil prices provided additional relief to global markets.
What is confirmed
- The Nasdaq notched a record high close, lifted by gains in Nvidia and Microsoft.
- The Nasdaq gained 1.05% to 27,477.31 points.
- The S&P 500 climbed 0.66% to end the session at 7,773.95 points.
- Oil prices dipped as investors looked ahead to quarterly corporate earnings reports.
Still unconfirmed
- Stock futures remained flat as investors grappled with higher yields and awaited Federal Reserve minutes.
What to watch next
- Upcoming quarterly corporate earnings reports
- Release of Federal Reserve meeting minutes
- Further movements in bond yields and oil prices
confidence 100%Sources used for this update (14)
- CNBC — Stock futures are flat as investors grapple with higher yields, await Fed minutes: Live updates
- AP News — Asian shares are higher as easing worries over inflation reduce odds for another Fed rate hike
- Reuters — S&P 500 up, Nasdaq at record high as megacap tech stocks rise
- www.marketscreener.com — Nasdaq notches record high close as investors focus on earnings | MarketScreener
- reuters.com — Trading Day: Nasdaq highs, Brazil surprise
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq rise as tech rallies, investors shrug off bond market caution
- Bloomberg.com — Asia Stocks Set to Rise After Tech Rally, Oil Dips: Markets Wrap
- Investor's Business Daily — Nasdaq Scores Record High As Oil Falls; Nvidia Hits New Highs
- www.marketscreener.com — Evercore ISI Adjusts C.H. Robinson Worldwide Price Target to $217 From $237
- www.livemint.com — Nasdaq notches record high close as investors focus on earnings | Stock Market News
- www.staradvertiser.com — Nasdaq notches record high close as investors focus on earnings | Honolulu Star-Advertiser
- www.straitstimes.com — Nasdaq notches record high close as investors focus on earnings
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