Technology shares lead US stocks higher as Nasdaq closes above 11,000
Wall Street shrugged off a sluggish start to close higher as the Nasdaq soared above 11,000 points as investors remain bullish on stocks and hope for a new fiscal stimulus package.
Earlier in the day European markets traded lower while Asia-Pacific was mixed. The U.S. markets remains the place to be, in particular the very mature technology sector.
The Australian market rose on Thursday to extend this week's strong run as the ASX 200 index climbed above 6,000 points. Following the action on Wall Street investors might expect another day of gains, but ASX futures point to a 15 point dip on the open.
As markets continue to rebound from their march lows, investors in Australia and overseas are looking to the next fiscal aid package to further cope with fallout from the COVID-19 pandemic.
24 hours
Share markets in Asia-Pacific kicked off the trading day somewhat mixed once again as markets in Australia and China rose, while Japan and Hong Kong sank lower. The Aussie share market has been performing strongly in a region that is lacking direction at times.
The Hang Seng Index dipped 0.69% to 24,930.58 points. The Nikkei 225 fell 0.43% in Tokyo.
The Shanghai Composite Index lifted 0.26% and is now approaching 3,400 points again.
Stock markets in Europe underperformed most of its peers as sentiment was subdued. The pan-continental STOXX Europe 600 Index fell 0.73%, weighed down by 1.27% slump of the FTSE100 in London.
The German DAX fared only slightly better and closed down 0.54% to 12,591.68.
In New York, the Dow Jones Industrial Average rose 185.46 points, or 0.68%, to 27,386.98 and the the S&P 500 gained 21.39 points, or 0.64%, to 3,349.16.
The star performer was once again the Nasdaq Composite which jumped over 100 points, or 1%, to 11,108.07 – an all-time high – rising for the seventh consecutive session.
Gold prices jumps, crude oil prices dip
Commodity price were mixed but generally remain in a bull market.
Gold remains in demand as the precious metal jumped another 1.3% to be last valued at US$2,075.20 an ounce, the highest price ever. Silver futures jumped over 5% to US$28.40.
The Crude Oil Continuous Contract fell 0.5% to fall below US$0.42 per barrel.
Other base metals were mixed as Copper futures dipped a mere 0.2% and Zinc gained nearly 3%.
Like this article? You may like...
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.
