New York: wall Street Thursday ended sharply higher, led by Tesla, NVIDIA And other megacap growth stocks saw a choppy session ahead of Friday’s key jobs report.
Tesla, Nvidia and Meta Platform each rose more than 4%, leading to gains in the S&P 500 and Nasdaq, Amazon gained 3.1% and Apple gained 1.7%.
Of the 11 S&P 500 sector indexes, 10 rose, led by consumer discretionary, up 3.03%, followed by material gains of 2.69%.
american stock Federal Reserve Vice Chairman Lyle Brainard said he supports interest rate hikes by at least half a percentage point, and sees little case for stopping a rate hike in September if price pressure doesn’t cool. .
The US stock market has staged a modest correction in recent sessions, with investors debating whether the worst selloff that dominated Wall Street could end in 2022.
“Volatility has become the norm, not the exception. Stocks are being held hostage by inflation, and until inflation is brought under control,” warns Terry Sandven, chief equity strategist at US Bank Wealth Management in Minneapolis, Minnesota. Volatility is likely to remain high.” ,
The S&P 500 is now down about 13% from its record high in early January.
The Philadelphia Semiconductor Index jumped 3.6% to end its highest level in nearly a month.
The ADP National Employment Report showed US private payrolls grew much less than expected in May, suggesting that demand for labor was beginning to slow amid higher interest rates and tighter financial conditions.
All eyes are now on government non-farm payrolls data on Friday, with investors looking for new signs of the health of the US economy and how aggressively the Fed may continue to raise interest rates. Analysts expect the economy to have added 325,000 jobs in the past month.
Unofficially, the S&P 500 ended the session up 1.84% at 4,176.82 points.
The Nasdaq rose 2.69% to 12,316.90, while the Dow Jones Industrial Average rose 1.33% to 33,248.28.
Microsoft Profit and revenue rose 0.8% even after the software maker cut its fourth-quarter forecast, making it the latest US company to warn of a hit from a stronger US dollar.
Hewlett Packard Enterprise Co fell 5.2% after the technology firm delivered a disappointing full-year forecast due to currency headwinds and an exit from Russia.
Veeva Systems rose nearly 15% after the life sciences software vendor’s quarterly revenue forecast beat expectations.
Ford Motor Company rose 2.5% when the automaker said it plans to invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri.
In the US stock market, the number of moving stocks outweighs falling stocks by a 3.5-to-one ratio.
S&P 500 records new highs and 29 new lows; The Nasdaq recorded 33 new highs and 107 new lows.
Volume on US exchanges was relatively light with 10.7 billion shares, compared to an average of 13.3 billion shares over the past 20 sessions.
Tesla, Nvidia and Meta Platform each rose more than 4%, leading to gains in the S&P 500 and Nasdaq, Amazon gained 3.1% and Apple gained 1.7%.
Of the 11 S&P 500 sector indexes, 10 rose, led by consumer discretionary, up 3.03%, followed by material gains of 2.69%.
american stock Federal Reserve Vice Chairman Lyle Brainard said he supports interest rate hikes by at least half a percentage point, and sees little case for stopping a rate hike in September if price pressure doesn’t cool. .
The US stock market has staged a modest correction in recent sessions, with investors debating whether the worst selloff that dominated Wall Street could end in 2022.
“Volatility has become the norm, not the exception. Stocks are being held hostage by inflation, and until inflation is brought under control,” warns Terry Sandven, chief equity strategist at US Bank Wealth Management in Minneapolis, Minnesota. Volatility is likely to remain high.” ,
The S&P 500 is now down about 13% from its record high in early January.
The Philadelphia Semiconductor Index jumped 3.6% to end its highest level in nearly a month.
The ADP National Employment Report showed US private payrolls grew much less than expected in May, suggesting that demand for labor was beginning to slow amid higher interest rates and tighter financial conditions.
All eyes are now on government non-farm payrolls data on Friday, with investors looking for new signs of the health of the US economy and how aggressively the Fed may continue to raise interest rates. Analysts expect the economy to have added 325,000 jobs in the past month.
Unofficially, the S&P 500 ended the session up 1.84% at 4,176.82 points.
The Nasdaq rose 2.69% to 12,316.90, while the Dow Jones Industrial Average rose 1.33% to 33,248.28.
Microsoft Profit and revenue rose 0.8% even after the software maker cut its fourth-quarter forecast, making it the latest US company to warn of a hit from a stronger US dollar.
Hewlett Packard Enterprise Co fell 5.2% after the technology firm delivered a disappointing full-year forecast due to currency headwinds and an exit from Russia.
Veeva Systems rose nearly 15% after the life sciences software vendor’s quarterly revenue forecast beat expectations.
Ford Motor Company rose 2.5% when the automaker said it plans to invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri.
In the US stock market, the number of moving stocks outweighs falling stocks by a 3.5-to-one ratio.
S&P 500 records new highs and 29 new lows; The Nasdaq recorded 33 new highs and 107 new lows.
Volume on US exchanges was relatively light with 10.7 billion shares, compared to an average of 13.3 billion shares over the past 20 sessions.