Wall Street Closes Higher After Three-Day Losing Streak
Wall Street closed higher on Thursday, ending its first three-day losing streak since Halloween. The S&P 500 rose 0.8 percent, continuing to hover near its highest level since March 2022. The Dow Jones Industrial Average also saw a modest increase of 0.2 percent, while the Nasdaq composite surged by 1.4 percent.
Big Tech Leads Market Push
The market’s upward momentum was largely driven by the strong performance of Big Tech companies, with Google’s parent company, Alphabet, leading the way. Treasury yields remained relatively stable following a report showing a slight increase in the number of workers applying for unemployment. However, market participants are eagerly awaiting a potentially more impactful job market report set to be released on Friday.
Thursday’s Market Performance
- The S&P 500 rose by 36.25 points, or 0.8 percent, closing at 4,585.59.
- The Dow Jones Industrial Average increased by 62.95 points, or 0.2 percent, reaching 36,117.38.
- The Nasdaq composite surged by 193.28 points, or 1.4 percent, closing at 14,339.99.
- The Russell 2000 index of smaller companies experienced a gain of 16.20 points, or 0.9 percent, ending at 1,868.25.
Weekly Performance
For the week, the S&P 500 is down 9.04 points, or 0.2 percent, while the Dow Jones Industrial Average is down 128.12 points, or 0.4 percent. On the other hand, the Nasdaq composite is up 34.96 points, or 0.2 percent, and the Russell 2000 index has gained 5.61 points, or 0.3 percent.
Yearly Performance
Looking at the year-to-date performance, the S&P 500 has seen an impressive increase of 746.09 points, or 19.4 percent. The Dow Jones Industrial Average has gained 2,970.13 points, or 9 percent, while the Nasdaq composite has surged by 3,873.51 points, or 37 percent. The Russell 2000 index has also experienced growth, with a gain of 107.01 points, or 6.1 percent.
