S&P index is a brand new 52 week excessive. NASDAQ closes at its highest stage this yr

The US jobs report was stronger than expectations. That despatched yields increased, however when the Michigan client sentiment additionally confirmed energy however with sharply decrease inflation expectations, shares rebounded. Though costs traded up and down and at this time, they’re closing increased and within the course of the:

• S&P index traded to a brand new 52-week excessive and closed on the highest stage since January 2022
• Nasdaq index closed at a brand new 2023 excessive and closed on the highest stage since January 2022
• Dow Industrial Common closed at its highest stage because the finish of December 2021

The small-cap Russell 2000 rose 12.56 factors or 0.67% at 1880.81.

As well as, all the most important indices closed increased for the sixth consecutive week. The Dow Industrial Common eked out a 0.01% achieve – the smallest of positive factors however nonetheless a achieve.

A have a look at the ultimate numbers exhibits:

• Dow Industrial Common rose 130.49 factors or 0.36% at 36247.80
• S&P index rose 18.78 factors or 0.41% at 4604.36
• Nasdaq index closed 63.97 factors or 0.45% at 14403.96

The Russell 2000 rose 0.97%

For the buying and selling week:

• Dow Industrial Common rose 0.01%
• S&P index rose 0.21%
• Nasdaq index rose 0.69%

The so-called “Magnificent 7” largely outperformed except for Amazon and Alphabet. Alphabet moved decrease on the day. Nvidia was the largest winner with a achieve of 1.95%:

• NVIDIA Corp (NVDA): Worth $475.03, Change +$9.07, +1.95%
• Meta Platforms Inc (META): Worth $332.71, Change +$6.12, +1.87%
• Microsoft Corp (MSFT): Worth $374.33, Change +$3.38, +0.91%
• Apple Inc (AAPL): Worth $195.64, Change +$1.47, +0.76%
• Tesla Inc (TSLA): Worth $243.76, Change +$1.12, +0.46%
• Amazon.com Inc (AMZN): Worth $147.35, Change +$0.55, +0.37%
• Alphabet Inc (GOOGL): Worth $134.97, Change -$1.96, -1.43%

For the buying and selling week the Magnificent 7 all moved increased except for Microsoft:

• Nvidia +1.58%
• Meta +2.44%
• Microsoft -0.07%
• Apple +2.34%
• Tesla +2.10%
• Amazon +0.31%
• Alphabet +2.37%

Trying on the S&P parts vitality and data expertise led the gainers (seven parts rose). Shopper Staples, Utilities, and Actual property have been the weakest:

• SPN (Vitality): Worth $623.21, Change +$6.87, +1.11%
• S5INFT (Data Expertise Sector): Worth $3302.75, Change +$29.54, +0.90%
• S5C0ND (Shopper Discretionary Sector): Worth $1369.42, Change +$5.87, +0.43%
• SPF (S&P 500 Futures): Worth $598.80, Change +$2.97, +0.50%
• S5INDU (Industrial Sector): Worth $918.96, Change +$3.03, +0.33%
• S5MATR (Supplies Sector): Worth $513.86, Change +$1.70, +0.33%
• S5HLTH (Well being Sector): Worth $1535.67, Change +$2.76, +0.18%
• S5TELS (Telecommunication Providers Sector): Worth $237.51, Change -$0.37, -0.16%
• S5REAS (Actual Property Sector): Worth $237.00, Change -$0.52, -0.22%
• S5UTIL (Utilities Sector): Worth $319.57, Change -$0.69, -0.22%
• S5C0NS (Shopper Staples Sector): Worth $737.74, Change -$4.86, -0.65%

Subsequent week we’ll see if the string can lengthen to seven. The FOMC price determination would be the greatest influencer. Greater shares could hold the Fed chair from being too optimistic about price coverage/inflation into 2024.