Nasdaq aided by tech stocks crosses impressive milestone

For the first time in November 2021, the Nasdaq Composite Index (.IXIC) crossed the mark of 16,000 points. It was a second-straight record finish and was clearly aided by technology stocks. The performance of the S&P 500 index (.SPX) and Nasdaq was impressive as it was a winning week. The Nasdaq rose by 1.2% and the S & P 500 index made a gain of 0.3%. Due to strict measures taken by the American government, the condition is under control. Many investors are turning towards safe havens although the economy is completely stable. It is important to mention that safe-haven demand also supported the key technology stocks. All these factors culminated in the lifting of the Nasdaq (.IXIC).

Netflix Inc (NFLX.O) and FAANG stocks made some gains. Chipmaker Nvidia Corp (NVDA.O) witnessed growth of 4.1% which was its third straight closing high. The Philadelphia semiconductor index (.SOX) rose by 0.3%. It managed to touch its third record closing high. The Nasdaq Composite Index (.IXIC) managed to add 63.73 points, growth of 0.4%. It was standing at 16,057.44. The S&P consumer discretionary sector made a gain of 0.3%. For the second day in a row, it managed to touch the closing peak. The strong retail earnings are also giving hope to the customers. More and more people are now likely to indulge in holiday shopping. This is truly a very positive sign for the economy.

In its third successive record closing, the Lowe's Companies (LOW.N) managed to add 0.9%. This growth was reported in the third-quarter results Etsy Inc (ETSY.O) rose by 1.4% and managed to touch the same closing feat. The picture is very clear with these figures. In the Q3 earnings, the trends are clearly showing the capacity of the US consumers. Now, more and more consumers are back into the store and preparing for the holidays. One of the most impressive performances on the S & P 500 was delivered by the information technology segment (.SPLRCT). It managed to grow by 0.8%. The volume on US exchanges was standing at 10.68 billion shares.

The US stocks aided by tech sectors and consumer discretionary managed to add some confidence in investors. The economic activities are already proceeding in full swing. Stability was visible in the U.S. benchmark Treasury yields. As far as oil prices are concerned, the US crude made a gain of 0.96% and touched the figure of $79.77 a barrel. Brent was also standing at $82.03 per barrel after rising 0.97%.

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