US stock markets: sustained rally – US stock markets reach new records
Dow Jones and S&P 500 once again exceed their recently reached record highs. Stock prices in the US are currently benefiting from two key drivers.
US stock markets are on a sustained surge, pushing indices to all-time highs. Major indices surpassed their recently established peak levels mid-week. However, profit-taking is particularly pronounced in the technology sector by the time markets close. The Dow Jones Industrial Average, composed of blue-chip stocks, closes almost 0.5 percent higher at 54,349 points, marking a new record high.
The S&P 500, a broader index, initially reaches a new record but then dips slightly to 7,723 points. The technology-heavy Nasdaq Composite initially climbs modestly before sliding 0.8 percent to 26,363 points at the market's close. US stock markets have experienced significant gains over recent days. The S&P 500 has risen more than six percent week-to-date, while the Dow Jones has climbed more than five percent.
The biggest gainers (nine percent) are in technology, but a previous price decline created more attractive entry points. Investors are buoyed by hope for progress in the Iran conflict. US political leaders are emphasizing that they are close to reaching an agreement on opening the Hormuz Strait. Parallel statements from President Trump regarding Iran, coupled with Tehran's muted response, deter investors.
Separately, the strong fiscal season continues to be a key catalyst. According to data platform FactSet, 84 of the companies listed in the broad S&P 500 index have beaten expectations so far.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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