The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

S&P 500 climbs for best day since early June as Nvidia shares lead tech turnaround

by admin July 24, 2024
July 24, 2024
S&P 500 climbs for best day since early June as Nvidia shares lead tech turnaround

The S&P 500 rose Monday to notch its best day since June 5 as tech shares bounced on the heels of the worst weekly loss for the index since April.

The benchmark climbed 1.08% to settle at 5,564.41 and clinch its best day since June 5, while the Nasdaq Composite advanced 1.58% to close at 18,007.57. The Dow Jones Industrial Average rose 127.91 points, or 0.32%, to finish at 40,415.44.

Nvidia popped 4.8%, recovering some of its 8% pullback from last week. Other major tech stocks such as Meta Platforms and Alphabet also rose more than 2%. CrowdStrike was the worst performer in the S&P 500, dropping 13.5% and building on last week’s nearly 18% loss.

“We’re seeing a rotation back into the technology sector after a pretty meaningful sell-off, exacerbated by the CrowdStrike meltdown,” said Mona Mahajan, a senior investment strategist at Edward Jones. “A combination of broadening in earnings and the Fed cutting rates is giving investors some hope.”

Tech stocks were under pressure last week as investors rotated out of those names in favor of smaller names, sending the S&P 500 lower by nearly 2% last week. The Nasdaq shed more than 3% during that period.

Despite tech’s strong gains, small-cap stocks held up. The Russell 2000 closed about 1.7% higher on Monday.

Traders also kept an eye on the U.S. political landscape after President Joe Biden dropped out of the presidential race on Sunday and endorsed Vice President Kamala Harris. Since Biden’s disastrous debate performance in June, many analysts were seeing an increasing likelihood of a win by former President Donald Trump in November.

Earnings and central bank policy remain top of mind for Wall Street. Traders have been pricing in a nearly 93% likelihood of the Federal Reserve cutting interest rates during its September meeting.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
FTC launches probe into ‘surveillance pricing’ that it says links cost to customer data
next post
McDonald’s to extend $5 value meal in most U.S. markets as diners return to chain

Related Posts

Dow tumbles 475 points, S&P 500 suffers worst...

April 15, 2024

A key to Biden’s lagging wind energy goal...

July 1, 2024

Walgreens plans store closures as CEO says consumers...

June 29, 2024

Microsoft CEO Nadella forms new AI group to...

January 14, 2025

‘He’s like Iron Man’: Jensen Huang lit up...

June 11, 2025

TikTok and fast-food rivalry fuel Chili’s sales as...

August 17, 2024

FTC drops Biden-era suit accusing Pepsi of price...

May 24, 2025

Amazon workers worldwide set to protest on Black...

November 28, 2024

Wholesale inflation rose 0.6% in February, much more...

March 15, 2024

Boeing machinists on picket lines prepare for lengthy...

September 24, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      August 31, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,370)
    • Politics (4,370)
    • Stocks (1,619)
    • Uncategorized (45)
    • World News (1,363)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved