2024-01-29 15:21:52
Driven by the craze for artificial intelligence, the strength of the American economy, hopes of an imminent rate cut and the insolent optimism of investors, despite a fairly temperate global economic climate, the major American indices are not stop breaking historical records. Even the Dow Jones, although less loaded with technology stocks, is following the trend. Before we run out of synonyms to describe these bullish rallies, let’s take a look at the three major Wall Street indexes.
Nasdaq 100 : 17400 points
With 12 weeks of increases out of the last 13, the Nasdaq seems invincible. After gaining more than 50% in 2023, and nearly 3.5% since the start of the year, the predominantly technological index exceeds 17,400 points, an absolute historical record.
Having managed to erase the turmoil of 2022, a year marked by doubt regarding tech and disenchantment with growth stocks, it should once once more gain momentum with the company results expected this week. Indeed, 5 and 7 magnificent which have driven the rise in recent months – Alphabet, Amazon, Apple, Meta and Microsoft – will publish their quarterly, and the declines of Tesla and Intel last week have already been forgotten by the market.
S&P 500 : 4890 points
Same observation for the S&P 500, which, with 500 of the largest capitalizations and a heavy technological weighting, is also reaching new heights. It has gained 2.6% since January 1 following having gained nearly 25% in 2023. If there are contrarians in the room, know that the upward trend of futures contracts on the index seems to indicate that this fervor will continue.
And for those who appreciate forecasts from statistics rather than crystal balls, a quick reminder: since 1953, when the S&P 500 ends January in the green, it bodes well for the rest of the year. , in 84% of cases.
Dow Jones : 38 100 points
Not to spoil the party, the Dow Jones, the oldest of the American indices, celebrated two absolute records last Friday: it reached its highest level in intraday (38.214) and closing (38.109). It has gained 1.2% since the start of the year, following having gained more than 13% in 2023.
He benefits, like his comrades, from a relative stability of inflation between November and December, from the increase in consumer spending, and ignores monetary policies and comments from the FED.
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