US stocks touch an impressive level while riding on tech shares

Movements in the market during the first few days of the new year are boosting the hopes of the investors. Due to the rebound in shares of key technological companies, the S&P 500 and Dow Jones Industrial Average also managed to rise. The S&P 500 managed to add 42.78 points, growth of 0.9% taking the final figures to 4713.07, finally snapping some major fluctuations. The Nasdaq Composite also rose by 1.4% and added 210.62 points taking the figure to 15153.45. The Dow Jones Industrial Average increased by 0.5% or 183.15 points. It was a major gain for several days and took the figure to 36252.02. Several financial experts admitted that it is time for central banks to take necessary actions. If necessary, they will have to raise the interest rates as well.

The decisions related to monetary policies are never taken hastily. Of course, central banks have roles in controlling inflation, but the interest rates cannot always remain at very low levels. The financial experts are confident and optimistic that inflation is likely to come down due to supply-chain bottlenecks. The investors also keep monitoring the steps of the Fed plans regarding normalization of the monetary policy. Many investors are concerned whether or not the central banks would increase the rates. Most smart investors keep a tab on the ongoing economic growth before taking a major decision.

It was good to see the communication services sector of the S&P 500 rose by 1%. Consumer discretionary also managed to rise by 0.4%. Amazon.com managed to climb 2.4% or $77.52. It finally managed to touch the figure of $3,307.24. Apple and the Facebook parent Meta Platforms rose by more than 1.5%. Growth of 3.4% was also seen in energy stocks. Coincidentally, the Brent crude prices also touched their highest settlement value. Other important stocks with impressive moves included the name of Illumina. It managed to add 17% or $61.52 to $423.80. Interestingly, it managed to beat the expectations of the analyst. The shares of Rivian Automotive that manufactures electric trucks rose by 2.6% or $2.11 taking the final figures to $83.55.

These days many investors are monitoring the movement of technology firms. Strong growth encourages the investors to proceed. The Stoxx Europe 600 also managed to rise by 0.8%. The US West Texas Intermediate (WTI) crude futures managed to add 0.5% or 38 cents touching the figure of $81.60 a barrel. As more and more economies are attaining complete stability, good news is coming for crude prices.

Request Call Back

Sign up to open account within minutes!

Sign up