Nasdaq hits record high as investors focus on earnings
The Nasdaq hit an all-time high on Monday, lifted by Nvidia and Microsoft, as investors focused on a dip in oil prices and looked ahead to quarterly earnings reports. It was the Nasdaq's second straight intraday record high after weaker-than-expected jobs data on Friday dampened expectations for an interest rate hike from the Federal Reserve at its policy meeting this month. The S&P 500 climbed…
The Nasdaq reached a record high on Monday, buoyed by Nvidia and Microsoft as investors focused on a decline in oil prices and anticipated quarterly earnings reports. This marked the Nasdaq's second consecutive intraday record high, following weaker-than-expected jobs data on Friday which undermined expectations of an interest rate hike from the Federal Reserve this month.
The S&P 500 also rose and was near its intraday record high set on August 13, while Microsoft climbed 1.5 percent and Meta Platforms increased by 2.1 percent. Tesla experienced a 2.5 percent surge. Oil prices fell as Middle Eastern exports of crude rose and the Group of Seven nations committed to increasing supplies. With minimal economic data and earnings due in a week, investors are searching for positive news, and appear to be looking at lower energy prices, stated Art Hogan, chief market strategist at B. Riley Wealth.
Banks are set to release their third-quarter results, with the next earnings season commencing next week.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Nasdaq hits record as dollar and Treasury yields climb, oil prices ease channelnewsasia.com
- Nasdaq hits record as dollar and Treasury yields climb freemalaysiatoday.com
- S&P 500 up, Nasdaq at record high as megacap tech stocks rise brecorder.com
- Tech heavyweights push Nasdaq to record high close news.rthk.hk
- Nasdaq hits record high as investors focus on earnings koreatimes.co.kr
- Nasdaq 100 tests all-time high at 31,336: Live levels investing.com
