American Markets Surge: S&P And Nasdaq Make Bumper Gains As Tech Companies Continue To Rule
S&P gained 1.18 per cent or 62.69 points, to take the cumulative count to 5,354.03. Meanwhile, Nasdaq gained the most from it, as the index hopped ahead by 1.96 per cent or 330.86 points, closing the day's trade on 17,187.90.
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The American indices had a field day on Wednesday, June 6, as the major indices at Wall Street improved their numbers significantly. Dow Jones Industrail Average made gains of 0.25 per cent or 96.04 points, to close the proceedings at 38,807.33.
Nasdaq Jumps Over 1%
The real gainers, however, were the S&P 500 and Nasdaq composite. In this, S&P gained 1.18 per cent or 62.69 points, to take the cumulative count to 5,354.03. Meanwhile, Nasdaq gained the most from it, as the index hopped ahead by 1.96 per cent or 330.86 points, closing the day's trade on 17,187.90.
This surge is largely being attributed by analysts to the continued progression of technological companies and their stocks. The focus here is largely on American chip company Nvidia, which made significant gains of 5.16 per cent in the matter of a single day's trade. Nivida's rise is said to have carried some of these indices, especially the tech-heavy Nasdaq, in the recent past.
The Super Seven See Shares Jump
The wonderful seven chiefly contributed to this surge, as, on Wednesday, Meta gained 3.79 per cent to reach USD 495.06. Nvidia, as mentioned before, gained 5.16 per cent. Microsoft gained 1.91 per cent to close on USD 424.01. Amazon gained 1.08 per cent to reach USD 181.28.
Even Apple gained 0.78 per cent to move to USD 195.87. Alpahabet or Google gained 1.11 per cent to take the tally to USD 177.07. Elon Musk's Tesla also saw a marginal uptick of 0.13 per cent, taking its numbers to USD 175.00.
In fact, the broader picture also appears to be relatively promising for Nasdaq and S&P. Unlike the first quarter, wherein the indices saw a cumulative decline at the end of the month, the past month has seen better prospects and greater growth at NYSE.
In fact, the Nadsaq has grown 5.13 per cent in the past one month. S&P grew by 3.34 per cent, in the previous month. Dow Jones was the outlier in this context, as the traditional index declined further by 0.12 per cent.
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