• 1,538
  • 1,140
  • 收藏

Tech stock rally sends S&P and Nasdaq to record highs

Reuters2021-06-29

(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.

Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.

The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.

In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.

“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.

Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.

The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.

Both the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.

“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.

Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.

On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.

With the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.

On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.

Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.

The S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.

Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论1140

  • Annabel1
    ·2021-06-29
    Yay
    回复
    举报
  • Tansw
    ·2021-06-29
    [OK] 
    回复
    举报
  • bobsk
    ·2021-06-29
    Still going strong
    回复
    举报
  • superpopo
    ·2021-06-29
    Let's see tonight
    回复
    举报
  • TweetyCSL
    ·2021-06-29
    [强] 
    回复
    举报
  • Lonejean
    ·2021-06-29
    Rotation play back to Technology
    回复
    举报
  • aaronh
    ·2021-06-29
    Nice
    回复
    举报
  • Kok
    ·2021-06-29
    Pls like n comment. Tks!!
    回复
    举报
    收起
    • aaronh
      [财迷]
      2021-06-29
      回复
      举报
    • Vikkilai
      Ok
      2021-06-29
      回复
      举报
  • kwangcm
    ·2021-06-29
    999
    回复
    举报
  • Elex
    ·2021-06-29
    🙂 nice
    回复
    举报
  • Louisssss
    ·2021-06-29
    Nice update
    回复
    举报
  • Howhowlee
    ·2021-06-29
    好强啊!😎👍
    回复
    举报
  • Louisssss
    ·2021-06-29
    Good
    回复
    举报
  • scout7211
    ·2021-06-29
    nice
    回复
    举报
  • PeiYi99
    ·2021-06-29
    Amazing
    回复
    举报
  • collinchu
    ·2021-06-29
    nice
    回复
    举报
  • kelvin97
    ·2021-06-29
    Like and comment please thank you my friends 
    回复
    举报
    收起
    • Matthew6638
      Ok
      2021-06-29
      回复
      举报
    • Kok
      pls reply. tks!!
      2021-06-29
      回复
      举报
    • NCM
      Ok
      2021-06-29
      回复
      举报
  • JoeK
    ·2021-06-29
    About time
    回复
    举报
  • MoneyKing
    ·2021-06-29
    Like and comment please 
    回复
    举报
    收起
    • kelvin97
      reply back pls tq
      2021-06-29
      回复
      举报
    • Kok
      pls reply. tks!!
      2021-06-29
      回复
      举报
    • Kok
      pls reply. tks!!
      2021-06-29
      回复
      举报
  • Jayden86_
    ·2021-06-29
    Pls help to like and comment 
    回复
    举报
    收起
    • oliviaeex
      okay
      2021-06-29
      回复
      举报
    • Jayden86_
      Reply back pls
      2021-06-29
      回复
      举报
    • kelvin97
      reply
      2021-06-29
      回复
      举报
    查看更多 2 条评论
 
 
 
 

热议股票

 
 
 
 
 

7x24