The most recent economic data continued to paint a good image of the economy, even if the S&P 500 ended the week marginally lower.
At 4,890.97, the broad market index slightly declined (0.07%). A decline in Intel following their earnings caused the Nasdaq Composite to fall 0.36% to 15,455.36. By rising 60.30 points, or 0.16%, to an all-time closing high of 38,109.43, the Dow Jones Industrial Average defied the trend. The current three major averages have increased by over 100% since their epidemic lows.
The major averages had a successful week in spite of Friday’s volatile session. About 1.1% of the S&P 500 increased, and the technology-heavy Nasdaq Composite gained roughly 0.9%. The blue-chip Dow experienced a rise of almost 0.7%.
The S&P 500 and Nasdaq have now won six straight days after Friday’s losses. For the first time since November 2021, the benchmark S&P 500 had ended at a record high for five straight trading days as of the end of Thursday’s session.
Source (CNBC)
