As tech stocks fuel broader market gains, the Nasdaq 100 index closed up 0.6 % at 19,576 points, and for the fourth straight session, it rose 0.6 % at the green.
The S&, P 500 also recorded its third straight good evening, rising 0.2 % to a report closing amount of 5, 433 points, rebounding from a morning drop caused by upsetting unemployment claims data.
After U.S. Treasury Secretary Janet Yellen expressed enthusiasm about the ongoing improvement of deflation, investors in the evening gained confidence in risky assets. Yellen praised the ease of labour market forces, but she also emphasized that the job market is still powerful.
The market anticipates a rate cut in September with a likelihood of close to 70 %, and it is currently pricing in breaks worth more than 50 basis points, equivalent to two fully priced rate cuts.
Thursday’s performance among the eleven areas of the S&, P 500 saw technology leading, up 1 %, followed by real estate, up 0.5 %, both supported by growing expectations of interest rate cuts.
Energy was the biggest laggard, down 0.9 %, followed by communication services, down 0.7 %.
|
Sector |
1- morning %chg |
|---|---|
| Technology Select Sector SPDR Fund ( NYSE: XLK) |
1.02% |
| Real Estate , Select Sector SPDR Fund ( NYSE: XLRE ) |
0.52% |
| Utilities Select Sector SPDR Fund ( NYSE: XLU) |
0.19% |
| Consumer Discretionary , Select Sector SPDR Fund ( NYSE: XLY ) |
0.13% |
| Consumer Staples , Select Sector SPDR Fund ( NYSE: XLP ) |
0.12% |
| Materials , Select Sector SPDR Fund ( NYSE: XLB ) |
-0.03% |
| Health Care , Select Sector SPDR Fund ( NYSE: XLV ) |
-0.04% |
| Financial Select Sector SPDR Fund ( NYSE: XLF ) |
-0.10% |
| Industrials , Select Sector SPDR Fund ( NYSE: XLI ) |
-0.64% |
| Communication Services Select Sector SPDR Fund ( NYSE: XLC ) |
-0.73% |
| Energy , Select Sector SPDR Fund ( NYSE: XLE ) |
-0.93% |
Nasdaq 100’s Major 5 Sleepers
|
Name |
Last |
Chg % |
| Broadcom Inc. ( NASDAQ: AVGO ) |
1,679.29 |
12.29% |
| NVIDIA Corporation ( NASDAQ: NVDA ) |
129.37 |
3.33% |
| Tesla, Inc. ( NASDAQ: TSLA ) |
182.33 |
2.84% |
| Exelon Corporation ( NASDAQ: EXC ) |
35.40 |
1.86% |
| Micron Technology, Inc. ( NASDAQ: MU) |
143.08 |
1.66% |
Nasdaq 100’s Best 5 Fallers
|
Name |
Last |
Chg % |
| Warner Bros. Discovery Inc. ( NASDAQ: WBD ) |
7.31 |
-6.40% |
| MongoDB, Inc. ( NASDAQ: MDB) |
218.14 |
-4.85% |
| Atlassian Corporation ( NASDAQ: TEAM ) |
156.04 |
-4.17% |
| Zscaler, Inc. ( NASDAQ: ZS ) |
181.00 |
-4.15% |
| Sirius XM Holdings Inc. ( NASDAQ: SIRI ) |
2.53 |
-3.93% |
S&, P 500’s Major 5 Sleepers
|
Name |
Last |
Chg % |
| Super Micro Computer Inc. ( NASDAQ: SMCI) |
871.16 |
12.45% |
|
Broadcom Inc. |
1,678.90 |
12.26% |
| Arista Networks, Inc. ( NYSE: ANET ) |
331.67 |
6.53% |
| Incyte Corporation ( NASDAQ: INCY ) |
62.68 |
4.57% |
| Qorvo, Inc. ( NASDAQ: QRVO ) |
113.36 |
4.27% |
S&, P 500’s Major 5 Fallers
|
Name |
Last |
Chg % |
| Paramount Global ( NASDAQ: PARA ) |
10.35 |
-6.92% |
|
Warner Bros. Discovery Inc. |
7.31 |
-6.40% |
| Etsy, Inc. ( NASDAQ: ETSY ) |
60.15 |
-4.93% |
| Generac Holdings Inc. ( NYSE: GNRC ) |
136.17 |
-4.58% |
| Albemarle Corporation ( NYSE: ALB ) |
108.23 |
-3.92% |
Then Read: Goldman Sachs Reaffirms September Rate Cut Forecast, Downplays Fed’s ‘ Hawkish Surprise ‘
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This article Nasdaq 100, S&, P 500 Close At Record Highs As Tech Companies Reclaim Dominance: Thursday’s Gainers &, Losers originally appeared on Benzinga.com
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