On April 10, 2024, traders worked on the trading floor of the New York Stock Exchange (NYSE) in New York City. As new inflation data released today showed continued growth, the stock market fell across the board, with the Dow Jones index falling by more than 400 points.
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U.S. stock index futures were trading near flat lines late Thursday as traders awaited corporate earnings reports from major U.S. banks.
Dow Jones Industrial Average Futures It rose 20 points, or 0.05%. S&P 500 Index Futures and Nasdaq 100 Futures Has not changed much.
After the sharp rebound, the action moved quietly. S&P 500 Index and Nasdaq Index Technology stocks led a resurgence of Wednesday’s inflation-fueled sell-off. On Thursday, the Nasdaq rose 1.68% to close at a record high. S&P 500 Index up 0.74%. 30 stocks Dow Chemical It fell slightly by 0.01%, falling for the fourth consecutive trading day.
apple was one of the seven heroes gathered Thursday. Shares of the iPhone maker rose 4.3% Bloomberg News Reports say the iPhone maker plans to overhaul its Mac products using new artificial intelligence chips. Apple had its best day since May 2023.
AI dear Nvidia also rose 4.1%, and Amazon It jumped to a new all-time high before the close, rising 1.7%.
Going forward, the push for artificial intelligence will be key in determining which stocks lead the current bullish market, said Thomas Martin, senior portfolio manager at Globalt Investments.
“The difference between the Nasdaq and the Dow today is very clear… it’s still a divided market driven by artificial intelligence,” he told CNBC. “That’s what you’re looking for in the future, that’s what you have to be sustainable with.”
Tech-focused gains on Thursday limited the S&P 500’s weekly losses, with the index now down 0.1% for the period. The Nasdaq closed the week up 1.2%. The Dow Jones is underperforming, down 1.1% so far this week.
The first-quarter earnings season officially kicks off on Friday, with many major U.S. financial institutions set to release earnings before the market closes.These include JPMorgan, FuGuo bank, Citigroup, black stone and state street.
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