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

Trump Media sues Brazil Supreme Court judge who...

February 20, 2025

Disney to combine its Hulu+ Live TV with...

January 7, 2025

Tesla, Bitcoin and Truth Social boom in election...

November 8, 2024

U.S. airlines cool hiring after adding 194,000 employees...

September 9, 2024

Why an indicator that has foretold almost every...

July 25, 2024

Stellantis CEO says $25,000 Jeep EV coming to...

May 30, 2024

The 10 worst states to retire in the...

August 1, 2024

Classic car sales stall in Monterey auctions as...

August 29, 2024

Domino’s Pizza finally launches stuffed crust to keep...

March 4, 2025

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

April 15, 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

    • Ben & Jerry’s co-founder resigns, claiming parent company Unilever ‘silenced’ its campaigning

      September 20, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 20, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 20, 2025
    • 58 House Dems vote against resolution honoring ‘life and legacy’ of Charlie Kirk

      September 20, 2025
    • Trump-approved plan to avert government shutdown scuttled by Senate

      September 20, 2025
    • Senate Republicans block Democrats’ ‘filthy’ counteroffer as shutdown deadline looms

      September 20, 2025

    Categories

    • Business (1,387)
    • Politics (4,534)
    • Stocks (1,659)
    • Uncategorized (45)
    • World News (1,380)
    • 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