Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

S&P 500 climbs for best day since early June as Nvidia shares lead tech turnaround

by admin July 24, 2024
July 24, 2024
S&P 500 climbs for best day since early June as Nvidia shares lead tech turnaround

The S&P 500 rose Monday to notch its best day since June 5 as tech shares bounced on the heels of the worst weekly loss for the index since April.

The benchmark climbed 1.08% to settle at 5,564.41 and clinch its best day since June 5, while the Nasdaq Composite advanced 1.58% to close at 18,007.57. The Dow Jones Industrial Average rose 127.91 points, or 0.32%, to finish at 40,415.44.

Nvidia popped 4.8%, recovering some of its 8% pullback from last week. Other major tech stocks such as Meta Platforms and Alphabet also rose more than 2%. CrowdStrike was the worst performer in the S&P 500, dropping 13.5% and building on last week’s nearly 18% loss.

“We’re seeing a rotation back into the technology sector after a pretty meaningful sell-off, exacerbated by the CrowdStrike meltdown,” said Mona Mahajan, a senior investment strategist at Edward Jones. “A combination of broadening in earnings and the Fed cutting rates is giving investors some hope.”

Tech stocks were under pressure last week as investors rotated out of those names in favor of smaller names, sending the S&P 500 lower by nearly 2% last week. The Nasdaq shed more than 3% during that period.

Despite tech’s strong gains, small-cap stocks held up. The Russell 2000 closed about 1.7% higher on Monday.

Traders also kept an eye on the U.S. political landscape after President Joe Biden dropped out of the presidential race on Sunday and endorsed Vice President Kamala Harris. Since Biden’s disastrous debate performance in June, many analysts were seeing an increasing likelihood of a win by former President Donald Trump in November.

Earnings and central bank policy remain top of mind for Wall Street. Traders have been pricing in a nearly 93% likelihood of the Federal Reserve cutting interest rates during its September meeting.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
June home sales slump as median sales price rises to $426,900
next post
Judge tosses defamation suit against Fox News by head of dismantled disinformation board

Related Posts

Nvidia passes Apple in market cap as second-most...

June 7, 2024

Chipotle to expand to Mexico amid Trump trade...

April 22, 2025

The White Stripes sue Trump for using ‘Seven...

September 11, 2024

Macy’s CEO says retailer will hike some prices...

May 29, 2025

Walmart says it’s ‘not going to be completely...

February 21, 2025

Tesla’s robotaxi launch in tech-friendly Austin has Musk...

June 4, 2025

TikTok and fast-food rivalry fuel Chili’s sales as...

August 17, 2024

Apple just landed a key win for the...

August 21, 2025

Amazon ‘anti-union propaganda,’ employee surveillance loom over labor...

February 18, 2025

Pixar is laying off 14% of its workforce...

May 22, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Death penalty looms for Charlie Kirk’s accused killer but legal bar is high as Trump, Cox mount pressure

      September 15, 2025
    • From Zapruder to smartphones: Assassination footage reshapes America’s view of political violence

      September 15, 2025
    • Death penalty looms for Charlie Kirk’s accused killer, but legal bar is high as Trump, Cox mount pressure

      September 15, 2025
    • Turning Point USA says campus chapter requests surge to over 32,000 after Kirk’s assassination

      September 15, 2025
    • Trump says ‘we’ll see what happens’ when asked about possibility of striking Venezuela amid rising tensions

      September 15, 2025

    Categories

    • Business (1,104)
    • Investing (3,034)
    • Politics (3,707)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved