Stock Market Update Thursday September 19, 2024
Stock Market Update Thursday September 19, 2024 It was a historic day on Wall Street as both the S&P 500 and the Dow Jones Industrial Average closed at record highs. The S&P 500 climbed 1.7%, closing above the 5700 level for the first time ever, while the Nasdaq rose 2.51% and the Russell 2000 increased by 2.06%, signaling broad strength across equity markets.
Technology stocks led the rally, with the sector gaining 3%, primarily driven by strong performances in semiconductor companies like AMD, Applied Materials, Nvidia, and Broadcom. The semiconductor-focused ETF, SMH, soared 4.34% on the day. Software stocks were another bright spot, as the IGV software ETF gained 2.56% to reach a new high.
Top individual performers included Tesla, which surged 7.36%, PayPal up 6%, and Citigroup and Airbnb, both posting gains of more than 5%. The rally across these key growth sectors underscores investor confidence in the long-term earnings potential of technology, semiconductors, and software companies, even as broader market indices continue to push higher.
Meta closing at new all time high
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