Tech Earnings Fuel Market Surge: A Week in Review

Anticipation surrounding the upcoming big tech earnings releases fueled a positive start on Wall Street. The Dow improved by 0.7%, the S&P500 added 0.9%, and the Nasdaq surged 1.1% on Monday.

Tuesday saw a continuation of the bullish sentiment, driven by impressive earnings beats from GM, Pepsi, and Spotify, along with optimistic forward outlooks. The Dow climbed 0.7%, the S&P500 gained 1.2%, and the Nasdaq surged 1.6%.

Mid-week, an increase in treasury yields led to volatility, resulting in mixed results for the Major Indexes. The Dow declined by 0.1%, the S&P500 saw a marginal gain of 0.02%, and the Nasdaq managed a modest rise of 0.1%.

Thursday brought discouraging news with a lower-than-expected preliminary GDP report, denting sentiment. Consequently, the Dow, S&P500, and Nasdaq all fell by 1.0%, 0.5%, and 0.6%, respectively.

Closing out the week on a positive note, upbeat earnings reports from Google and Microsoft inspired buying activity on Friday. As a result, the Dow improved by 0.4%, the S&P500 climbed 1.0%, and the Nasdaq surged 2.0%.

For the week, all three Major Indices recorded another week-over-week gain, reflecting overall market resilience amidst fluctuating conditions.

Stay tuned for our video forecast on the week ahead, where we’ll provide insights and predictions to help navigate the ever-changing landscape of the stock market.

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