The Nasdaq 100 posted its fourth straight session high on Thursday, closing up 0.6% at 19,576 and hitting new all-time highs as technology stocks led broader market gains.
The S&P 500 also posted a fourth consecutive positive day, rising 0.2% to a record close of 5,433 points, recovering from a morning drop caused by disappointing jobless claims data.
In the afternoon, traders regained confidence in risky assets after the US Treasury secretary Janet Yellen expressed optimism for the continued progress of disinflation. While Yellen pointed to easing labor market pressures, she emphasized that the labor market remains strong.
The market anticipates a rate cut in September with a near 70% probability, and is currently pricing in over 50 basis points of cuts by the end of the year, equivalent to two full-price rate cuts.
Thursday’s performance among the eleven sectors of the S&P 500 saw technology lead the way, up 1%, followed by real estate, up 0.5%, both supported by rising expectations of interest rate cuts.
Energy was the biggest laggard, down 0.9%, followed by communications services, down 0.7%.
|
Sector |
%chg 1-day |
|---|---|
|
Technology Select Sector SPDR Fund (NYSE:XLK) |
1.02% |
|
Real estate Choose the SPDR Sector Fund (NYSE:XLRE) |
0.52% |
|
Services Select SPDR Fund Sector (NYSE:XLU) |
0.19% |
|
Consumer Discretion Choose the SPDR Sector Fund (NYSE:XLY) |
0.13% |
|
Consumer staples Choose the SPDR Sector Fund (NYSE:XLP) |
0.12% |
|
mATERIALS Choose the SPDR Sector Fund (NYSE:XLB) |
-0.03% |
|
Health care Choose the SPDR Sector Fund (NYSE:XLV) |
-0.04% |
|
Select Financial Sector SPDR Fund (NYSE:XLF) |
-0.10% |
|
industrial Choose the SPDR Sector Fund (NYSE:XLI) |
-0.64% |
|
Communications Services Select SPDR Sector Fund (NYSE:XLC) |
-0.73% |
|
POWER Choose the SPDR Sector Fund (NYSE:XLE) |
-0.93% |
Top 5 Nasdaq 100 Risers
|
Name |
The last |
chg % |
|
Broadcom Inc. (NASDAQ:AVGO) |
1,679.29 |
12.29% |
|
NVIDIA Corporation (NASDAQ:NVDA) |
129.37 |
3.33% |
|
Tesla, Inc. (NASDAQ:TSLA) |
182,33 |
2.84% |
|
Exelon Corporation (NASDAQ:EXC) |
35.40 |
1.86% |
|
Micron Technology, Inc. (NASDAQ:MU) |
143.08 |
1.66% |
Nasdaq 100’s Top 5 Fallers
|
Name |
The last |
chg % |
|
Warner Bros. Discovery Inc. (NASDAQ:WBD) |
7.31 |
-6.40% |
|
MongoDB, Inc. (NASDAQ:MDB) |
218.14 |
-4.85% |
|
Atlassian Corporation (NASDAQ:TEAM) |
156.04 |
-4.17% |
|
Zscaler, Inc. (NASDAQ:ZS) |
181.00 |
-4.15% |
|
Sirius XM Holdings Inc. (NASDAQ:SIRI) |
2.53 |
-3.93% |
S&P 500’s Top 5 Risers
|
Name |
The last |
chg % |
|
Super Micro Computer Inc. (NASDAQ:SMCI) |
871.16 |
12.45% |
|
Broadcom Inc. |
1678.90 |
12.26% |
|
Arista Networks, Inc. (NYSE:ANET) |
331.67 |
6.53% |
|
Incyte Corporation (NASDAQ:INCY) |
62,68 |
4.57% |
|
Qorvo, Inc. (NASDAQ:QRVO) |
113.36 |
4.27% |
S&P 500’s Top 5 Fallers
|
Name |
The last |
chg % |
|
Paramount Global (NASDAQ:PARA) |
10.35 |
-6.92% |
|
Warner Bros. Discovery Inc. |
7.31 |
-6.40% |
|
Etsy, Inc. (NASDAQ:ETSY) |
60.15 |
-4.93% |
|
Generac Holdings Inc. (NYSE:GNRC) |
136,17 |
-4.58% |
|
Albemarle Corporation (NYSE:ALB) |
108.23 |
-3.92% |
Now Read: Goldman Sachs Reaffirms September Rate Cut Forecast, Downplays Fed ‘Hawkish’ Surprise
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This article Nasdaq 100, S&P 500 close at record highs as tech stocks regain dominance: Thursday’s winners and losers originally appeared on Benzinga.com
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