S&P 500 Archives - Page 3 of 4

July 18, 2024September 12, 2025

Worst day for Nasdaq since 2022 as investors continue to rotate out of tech. S&P 500 slides – Dow gains

On Wednesday 17th July 2024, the Nasdaq Composite and S&P 500 pulled-back as investors continued to shift from tech stocks to more interest rate-sensitive sectors.

The S&P 500 dropped 1.39%, closing at 5588. The tech-geared Nasdaq tumbled 2.77%, finishing at 17996, marking its worst session since December 2022 and ending below 18000 for the first time since 1st July 2024.

Conversely, the Dow Jones Industrial Average resisted the downward trend, gaining around 243 points, or to close at 41198. This advance led the index to close above the 41000 milestone.

Nasdaq Composite 17th July 2024 – one day chart

S&P 500 17th July 2024 – one day chart

Dow Jones 17th July 2024 – one day chart

July 15, 2024September 12, 2025

Dow rises more than 400 points to hit intra-day of 42000 then trims back before close

Let the rotation begin

The Dow Jones Industrial Average surged on Friday 12th July 2024 as investors began to diversify beyond the technology sector.

The Dow closed at 40,000.90, after hitting a new all-time high of 40,257.

The S&P 500 added 0.55% to 5,615, and the Nasdaq Composite went up 0.63% to 18,398. However, on Thursday 11th July 2024 the S&P 500 experienced its worst day since late April due to a major market rotation, with Nvidia dropping 5.6%.

Investors rotated from tech to industrial stocks in the Dow on Friday, hoping that slowing inflation might lead to a Federal Reserve rate cut in September.

The Dow gained 1.6% for the week, spurred by a report showing a 0.1% decline in the consumer price index for June. Recent reports suggest that the Federal Reserve might indeed consider a rate cut in September if inflation continues to slow.

While the AI growth has been dominant, other market catalysts, such as potential rate cuts, can also drive different sectors, including utilities.

Good earnings, improving economic news and the promise of a rate cut are combining to become the perfect storm for U.S. stocks.

July 11, 2024September 12, 2025

Big Tech and AI stocks push S&P 500 and Nasdaq to new all-time highs!

On Wednesday, 10th July 2024, the S&P 500 reached a new record high, surpassing 5,600 for the first time, propelled by a significant surge in semiconductor stocks.

The S&P 500 index rose by 1.02%, ending the day at 5,633 and marking its seventh consecutive day of gains. The Nasdaq Composite increased, achieving a new all-time high closing at 18,647.

This year has seen the S&P 500 close at record highs some 37 times, with the Nasdaq following closely with 27 record high finishes.

S&P 500

Nasdaq Composite

The Dow Jones Industrial Average grew by 429 points, finishing at 39,721.

Note: figures rounded

July 11, 2024September 12, 2025

Japan’s Nikkei blast through 42000 to reach all-time high

Japan’s Nikkei 225 surpassed the 42,000 threshold for the first time ever during a widespread increase in Asia-Pacific markets on Thursday 11th July 2024.

This surge followed a rally in U.S. Big Tech stocks, fueled by optimism over a potential Federal Reserve rate cut moving ever closer.

The Nikkei climbed almost 1% to close at 42,224 driven by gains in technology shares, while the comprehensive Topix index advanced to finish at 2,929.

Nikkei index

July 9, 2024September 12, 2025

Japan, India and U.S. stock markets continue to hit new record highs!

Asia-Pacific markets witnessed highs on Tuesday 8th July 2024, mirroring the gains on Wall Street where the S&P 500 and the Nasdaq Composite ended at record highs. India’s Nifty 50 index also hit an all-time high of 24401.2

Investors are anticipating the forthcoming U.S. consumer price index release to discern the Federal Reserve’s direction on interest rates.

Pundits

Pundits have moved this year from four 0.25% rate reductions to one and now maybe to two with the first in September 2024. The Fed trickles decisions out from its fickle stance and each time the markets move in anticipation like a lap dog eagerly awaiting a pat. It almost doesn’t matter what the Fed does – markets want to go up. However, a rate reduction and good economic and earnings news will drive the markets even higher, for a while.

Fickle Fed

Markets are currently anticipating earnings reports. The Federal Reserve, having considered the latest economic reports, has influenced the markets with a mix of indifferent decisions. AI and technology have significantly shifted the stock market landscape, with the potential for further growth – provided that earnings sustain the pace of AI investments and expenses.

Both the S&P 500 and the Nasdaq Composite achieved record highs again overnight, alongside Japan’s Nikkei and Topix reaching new highs too.

The Nikkei 225 climbed to settle at 41580.17 after hitting a new high of 41769.35. The Topix also gained, closing at 2895.55, having touched a peak of 2907.21.

Nikkei

Topix

S&P 500

Nasdaq Composite

Nifty 50

July 6, 2024September 12, 2025

S&P 500 and Nasdaq hit record highs again as job data raises chance of a Fed interest rate cut

Markets respond positively to job data as the S&P 500 and Nasdaq break record highs, again!

S&P 500 record high

Nasdaq Composite record high

Nasdaq 100 record high

U.S. non-farm payrolls increase

The U.S. economy added slightly more jobs than expected in June 2024 though the unemployment rate increased, the U.S. Labor Department reported Friday.

Non-farm payrolls increased by 206,000 for the month, better than the 200,000 Dow Jones forecast though less than the downwardly revised gain of 218,000 in May, which was cut sharply from the initial estimate of 272,000.

The unemployment rate unexpectedly rose to 4.1%, matching the peak since October 2021, presenting a conundrum for Federal Reserve officials as they consider their next steps in monetary policy. Projections had indicated that the unemployment rate would remain stable at 4%.

July 4, 2024September 12, 2025

Nasdaq and S&P 500 both hit new highs as markets close early for U.S. Independence Day!

The S&P 500 reached new heights in a shortened trading session on Wednesday 3rd July 2024, with investors seemingly dismissing lacklustre economic data.

The S&P 500 closed at a new high of 5537, while the Nasdaq Composite finished the session at 18188, buoyed by rallies in technology and AI stocks like Tesla and Nvidia. Both indices reached new all-time highs during the session and closed at record levels.

The Dow Jones Industrial Average lost just closed down at 39308.

Trading volume was subdued as the New York Stock Exchange closed early at 1 p.m. ET. The exchange will remain closed on Thursday 4th July 2024 for Independence Day celebrations.

S&P 500: One-year chart – index closed at a new record high

S&P 500 One-year chart closed at new record high

Nasdaq Composite: One-year chart closed at new record high

July 3, 2024September 12, 2025

S&P 500 closes above 5500 for the first time

On 2nd July 2024, the S&P 500 reached a significant milestone, closing above 5500 for the first time in its history.

This impressive achievement has prolonged the blistering rally of 2024, during which the index has reached 32 record highs. Since July 2023, the S&P 500 index has surged by more than 1000 points.

The rise in U.S. equities has been propelled by robust corporate earnings, the artificial intelligence (AI) boom, and the anticipation of interest rate reductions. Although some analysts warn that the market might be stretched too far, others are forecasting additional increases.

Many analysts have now raised their target for the S&P 500 to end the year at around 5700.

One year S&P 500 chart July 2023 to July 2024

June 18, 2024September 12, 2025

Nvidia to get 20%+ weighting as ETF fund reportedly plans to acquire $10 billion of shares

Nvidia’s swift ascent is poised to prompt a major technology exchange-traded fund to acquire more than $10 billion in shares of the semiconductor maker, consequently reducing its shareholding in Apple.

The Technology Select Sector SPDR Fund (XLK), which will rebalance soon, is guided by an index that will adjust based on the market cap value at Friday’s close. According SPDR Americas Research, the recalibration will reportedly position Microsoft as the leading stock, followed by Nvidia, and then Apple.

Without caps, each of the three stocks would exceed a 20% weight in the index. However, the index’s diversification rules restrict the total weight that stocks constituting at least a 5% share of the fund can hold.

Consequently, it is anticipated that Microsoft and Nvidia will each approach a 21% weight, while Apple’s share is projected to drop to approximately 4.5%.

This news moved markets on 17th June 2024 and pushed the S&P 500 to a new all-time high. The Nasdaq100 index also relished the news reaching: 19902.75

Nvidia share price 17th June 2024 – one year chart

June 18, 2024September 12, 2025

New all-time highs for S&P 500 & Nasdaq

The S&P 500 climbed on Monday 17th June 2024, closing at a new record high aided by the substantial weighted rebalancing of an ETF.

The index concluded at 5473, while the Nasdaq Composite soared to 17857. The Dow Jones Industrial Average gained 188.94 points, finishing at 38778.

These gains occurred after XLK announced it was rebalancing its fund in favour of Nvidia. The major technology exchange-traded fund will get 20% weighting and billions in investor demand it was announced.

S&P 500 500 reaches another all-time high of 5473 on 17th June 2024

June 15, 2024September 12, 2025

Nasdaq Composite narrowly secured its fifth consecutive record close

On Friday 14th June 2024, the Nasdaq Composite edged up to close at a record high for the fifth consecutive session.

Nasdaq Comp hits fresh record high for the fifth consecutive session

The tech-centric index rose slightly by 0.12%, finishing at 17688. The S&P 500 dipped slightly to close at 5431 and ending its four-day streak of gains.

The Dow Jones Industrial Average fell by 57.94 points, closing at 38589.

June 14, 2024September 12, 2025

S&P 500 and Nasdaq continue to push higher after another all-time high record

Both the S&P 500 and the Nasdaq Composite each hit yet another all-time high on 13th June 2024. The S&P 500 notching fresh records for the last four consecutive days.

S&P 500 closed at another new all-time high on 13th June 2024

Nasdaq Composite closed at another new all-time high on 13th June 2024

17,667.56 USD – Up 59.12 on the day

Tech led AI frenzy feed the new moves to all-time highs!

June 13, 2024September 12, 2025

Nasdaq and S&P 500 hit new all-time highs as Fed feeds scraps to the AI frenzy!

The S&P 500 soared to a new high, surpassing 5400 for the first time on Wednesday 12 June 2024, following the Federal Reserve’s latest policy statement and the May 2024 inflation report, which suggested a softening of inflationary pressures.

The S&P 500 index rose by 0.85%, closing at around 5421 while the Nasdaq Composite advanced 1.53%, finishing at 17608.

Both the S&P 500 and Nasdaq reached unprecedented levels and set closing records on Wednesday 12th June 2024. Conversely, the Dow Jones Industrial Average marginally declined by 0.09%, or around 35 points, to settle at 38712.

S&P 500 at new all-time high 12th June 2024

Nasdaq Composite at new all-time high 12th June 2024

The Federal Reserve maintained the interest rates, aligning with widespread expectations. The Fed also acknowledged some progress on inflation. Modest further progress has been made toward the Committee’s 2% inflation goal and this was more than enough coupled with the recent jobs report to push U.S. markets even higher.

A tiny glimpse of the ‘2% inflation future’ was all it took to send markets on an AI led feeding frenzy to push the S&P 500 and Nasdaq to new all-time highs.

One caveat though, the Fed’s recent forecasts predict only one rate reduction this year, a decrease from the three rate cuts anticipated earlier in 2024.

It was enough to propel markets to fresh all-time highs!

June 12, 2024September 12, 2025

S&P 500 and Nasdaq close at new all-time highs again

The S&P 500 and Nasdaq Composite reached new closing highs on Tuesday 11th June 2024, propelled by Apple as the tech giant’s stock hit a record itself.

The S&P 500 index climbed to a new high to close at 5375, while the Nasdaq Composite finished the day at 17343. Both indices also hit new intraday highs. However, the Dow Jones Industrial Average fell by around 120 points to close at 38747.

S&P 500 reaches new all-time high on 11th June 2024

Nasdaq Composite hits new all-time high on 11th June 2024

Investors seemed to be cashing in on Nvidia, a leader in artificial intelligence, and shifting focus to Apple, which recently introduced new features likely to drive a surge in iPhone upgrades.

Apple’s stock reached a new high during the trading session, its first since December 2023, with around a 7% increase. Nvidia’s stock declined by 0.7% as some profit taking ensued.

June 6, 2024September 12, 2025

Nvidia $3 trillion market cap propels S&P 500 and Nasdaq to new all-time highs

The S&P 500 reached a new high as Nvidia surpassed the $3 trillion mark for the first time, and the anticipation of an interest rate cut grew due to softer-than-expected job data.

S&P 500 all-time high as of 5th June 2024

Similarly, the Nasdaq 100 and Nasdaq Composite achieved new record highs

AI boom catapults Nvidia passed Apple’s market cap’ valuation

Artificial intelligence (AI) chipmaker Nvidia passed Apple’s market cap’ to become the world’s second most valuable company after Microsoft.

Nvidia’s shares have surged 24% following its impressive earnings report in May, in contrast to Apple’s shares, which have increased by only 5% this year amid a slowdown in sales growth in recent months.

Nvidia one year share price as of 5th June 2024

Nvidia Market Cap at $3.01 trillion as of 5th June 2024

May 30, 2024September 12, 2025

Nasdaq 100 and Nasdaq Composite hit all-time highs on 28th May 2024

The Nasdaq Composite closed at an all-time high above 17,000 for the first time, propelled by a rise in Nvidia shares, despite a generally uneventful market day.

Nasdaq 100 all-time high of 18907

Nasdaq Comp hit all-time high of 17019

The S&P 500 saw a marginal increase of 0.02%. Following remarks from Minneapolis Federal Reserve President Neel Kashkari.

The Dow Jones Industrial Average dropped over 200 points.

These levels were not held and were lost over subsequent trading days as even Nvidia could not stop the Nasdaq from losing ground.

May 21, 2024September 12, 2025

Nasdaq Composite Index hits a new all-time high on Monday 20th May 2024

The Nasdaq is a stock market index predominantly comprising technology and internet-related companies. Investors and traders closely monitor its performance as it serves as a barometer for the technological sector’s robustness and the general market mood.

Nasdaq all-time high

The Nasdaq Composite surpassed its previous highest value, marking a significant milestone in its history.

Contributing factors

Tech success

The surge was propelled by robust performances from leading tech companies like Apple, Amazon, Microsoft, and Alphabet (Google).

Economic optimism

Positive economic data, the lingering promise of interest rate cuts, and optimism about future growth contributed to investor confidence.

Market sentiment

The all-time high indicates a positive sentiment in the stock market; however, it is crucial to keep an eye on current trends and potential corrections.

Note

Keep in mind that stock markets are subject to volatility, with prices capable of swift fluctuations. It’s crucial for investors to proceed with caution and take into account their individual risk tolerance before making any investment choices.

If in doubt – do nowt!

RESEARCH! RESEARCH! RESEARCH!

May 18, 2024September 12, 2025

DOW does it – hits history high of 40000!

The Dow Jones Industrial Average marked a historic achievement by closing above 40,000 points for the first time. On Friday 17th May 2024, the index increased by 134.21 points to settle at 40,003.59.

Concurrently, the S&P 500 saw a modest rise, while the Nasdaq Composite closed lower. The rise this week has shifted the three major stock indexes into the green for the second quarter, following a challenging start.

Despite some investors’ concerns about the sustainability of the rally, the mix of economic expansion and slowing inflation continues to act as a positive driver.

It’s an optimistic setup for the near future in 2024

May 7, 2024September 12, 2025

FTSE 100 in record territory

The FTSE 100 soared past 8300, reaching a new record high amid busy trading as London markets reopened after the bank holiday.

A catch-up trading session is evident, with mainland-listed stocks having a robust session on Monday 7th May 2024 and continuing to rise. The FTSE reached around 8335 in intraday trading.

Wall Street also experienced another positive session, with the Dow Jones climbing for the fourth consecutive day following the Federal Reserve’s less aggressive stance, and the S&P 500 gaining too. Despite mixed results, earnings have bolstered risk appetite. The low U.S. job count has encouraged traders/investors to take heart that rate cuts will be on the agenda again soon, even if they are now late.

Bank of England

Attention will now turn to the Bank of England (BoE), which faces a decision on whether to guide the market towards a rate cut – the first in four years – or to exercise more patience. The consensus is that it’s premature for a cut this week, with August 2024 being the more likely date, although the Monetary Policy Committee’s (MPC) opinions vary.

Last month the Deputy Governor of the BoE, indicated his readiness to vote for a rate cut with little additional evidence of declining inflation, highlighting the ‘downside risks’ to the BoE’s February inflation forecast. In contrast, the Bank of England’s Chief Economist, expressed a more cautious stance in April regarding the initiation of rate cuts.

Inflation

Inflation is on a downward trajectory, expected to return to 2% in the next few months. CPI decreased from 3.4% to 3.2% between February and March 2024, and core inflation dropped from 4.5% to 4.2%. However, the BoE is likely to await April’s data before taking any decision.

Persistent wage growth of around 6% indicates continued strength in the labour market. Financial markets anticipate a Bank of England rate cut by August 2024, but it is believed the BoE may be prepared to act as early as June 2024, aligning with the anticipated policy move by the ECB.

February 23, 2024September 12, 2025

S&P 500 hit new all-time high and Nasdaq closing in on record

The S&P 500 surged to a new all-time high on Thursday 22nd February 2024

Microchip maker Nvidia reported much stronger-than-expected quarterly results, lifting tech sector and markets higher.

S&P 500

The S&P 500 gained just over 2% to close at 5087, notching its best day since January 2023. The Nasdaq Composite advanced 2.96% for its best day since February 2023, closing at 16041 and ever closer to its all-time high.

Nasdaq

The tech-heavy index is very close now to its all-time closing high of 16,057.44.

Dow

The Dow Jones Industrial Average surged 456 points to surpass 39000 for the first time ever and close at a new high of 39069.

Other tech names were also higher. Meta and Amazon gained about 3.9% and 3.5%. Microsoft and Netflix each advanced more than 2%.

Nvidia driving tech gains

Shares of Nvidia climbed around 16% to an all-time high after the company said total revenue rose a massive 265% from a year ago.

Nvidia, which has become one of the largest U.S. companies by market capitalization, also forecast another stellar revenue gain for the current quarter.

February 12, 2024September 12, 2025

Nasdaq 100 hits new all-time high of 17962

The index continues its march breaking all-time records on its way

**The index continues on its march breaking all-time records on its journey**

Nasdaq 100 climbs to new record 9th February 2024

A solid earnings season, easing inflation data and a resilient economy have charged 2024′s market rally. It has helped propel the Nasdaq 100 to close at these new highs!

We are enjoying good news at an economic and earnings level, and the market is reacting positively. The longer the good news story plays out, the more likely it will be that the market will hold from here.

FOMO or the fear of missing out is likely playing its part here too.

February 12, 2024September 12, 2025

S&P 500 closes above 5000 for the first time

The S&P 500 climbed to a new all-time high of 5026 on 9th February 2024

Stocks rose on Friday 9th February 2024 after December’s revised inflation reading came in lower than first reported, and the S&P 500 closed above the key 5,000 level as strong earnings and economic news came in.

A solid earnings season, easing inflation data and a resilient economy have charged 2024′s market rally. It propelled the S&P 500 to close above the 5,000 level after first touching the milestone during the trading week. The index first crossed 4,000 in April 2021.

But it won’t take much to spoil the party, right now I don’t know what that might be…?

S&P 500 1-year chart 9th February 2024 – new all-time high of 5026

FOMO or the fear of missing out is likely playing its part here too.

February 9, 2024September 12, 2025

All hail the rally?

U.S. stocks have had a good year in 2023, and a great start to 2024 with new record highs being set.

Many major indices have recorded double-digit gains. However, some analysts have warned that the rally may not last, as it has been driven by a few large-cap technology and growth stocks, while many other sectors and regions have lagged behind.

A stock market rally is a broad and rapid rise in share prices, often defined as a 20% increase from a recent low.

This could indicate a lack of breadth and sustainability in the rally, and potentially signal a market pullback, correction or even a crash in the future.

Bull bear, bull?

Chartists with their technical analysis might see a pattern that points to a substantial upside, but they should not get too carried away with their own observations, right now would be a sensible time for markets to find level ground, if only temporarily.

The bullish view is that the ‘laggards’ should catch up the ‘mega cap’ stalwarts once again. The bearish view is that the ‘mega cap’ stocks’ will realise they’ve gone too far and need to ride back to the rest of the market. Too few stocks in the same sector hold the balance of power – go check out the Magnificent 7 or even the old FANG stocks.

Catch-up

Either way, there ought to be an opportunity for underrepresented sectors and industries to gain lost ground.

The question is, will there be a pause to allow laggards to catch-up, or will the mega caps simply continue on their march?

February 8, 2024September 12, 2025

S&P 500, Nasdaq 100 and Dow all hit new highs!

S&P 500, Nasdaq 100 and Dow all up at new highs!

The S&P 500 climbed again Wednesday 7th February 2024 and edged ever closer to the 5,000 level.

S&P 500 hit a new high of 4995

The index, which first breached the 4,000 level in April 2021, added around 0.82% to close at 4,995.06. During session highs, the S&P hit 4,999.89. Quarterly results signalled a thriving U.S. economy.

The Nasdaq 100 jumped to a new high of 15,755

The Dow Jones Industrial Average rallied 156 points to close at 38,677 and an all-time high

**DJIA closes at new high of 38677** **on 7th February 2024**

Euphoric

Are investors getting swept away with the latest wave of AI related tech results? Quite possibly, as some of what we’re seeing could be based on FOMO (fear of missing out) as traders/investors don’t want to be left behind like they were last year.

However, one undeniable fact is that the U.S. economy isn’t facing as recession any time soon as predicted by many.

January 11, 2024September 12, 2025

December 2023 U.S. inflation data came in higher-than-expected

Stocks moved lower Thursday 11th January 2024, reflecting the higher-than-expected December 2023 inflation data.

The S&P 500 in early trade edged lower by around 0.7%, while the Nasdaq Composite dropped nearly 0.8%. The Dow Jones Industrial Average dropped by 0.6%. The S&P 500 briefly touched 4800 after climbing above its record high of 4,796.

Higher than expected

December’s consumer price index figure came out slightly higher-than-expected, reflecting a 0.3% increase in consumer prices for the month, pushing the annual rate to 3.4%.

Core CPI, excluding volatile food and energy prices, came out in line with expectations, however, pointing to persistent, but easing inflation pressures. The new inflation data figures suggests that future interest rate cuts may be slower to come.

This move up in CPI is an absolute reminder of the unpredictable nature of economic recovery.

December 21, 2023September 12, 2025

Sudden sell-off confounds analysts – is it profit taking or economic woe?

The Nasdaq and Dow hit new all-time highs in recent days and the S&P 500 is hot on their heels.

After nine straight days of gains, Wall Street suddenly reversed an hour and a half before the closing bell on Wednesday 20th December 2023.

The sell-off expanded into Asia overnight, with Japan’s Nikkei 225 leading losses, before stocks across Europe also slid into the red on the Thursday morning, 21st December 2023.

Some indicated Wednesday’s sell-off was as simple as investors taking profits after a nine-day mini bull run, in the absence of any obvious catalyst and with U.S. stocks widely seen as overbought.

Other market analysts pointed to a high volume of zero-day options trading as the death knell for the winning streak.

Time left for a Santa rally?

Markets have been on a tear in recent eeks and months, maybe it’s time for a breather. But some suggest U.S. equities are overbought in general – so, is this something more discerning?