Stock Market Update Wednesday October 9, 2024

Stock Market Update Wednesday October 9, 2024 Stocks rallied for a second consecutive day, with major technology companies leading the advance. The S&P 500 increased by 0.71%, closing at a new record high. The Nasdaq Composite rose by 0.60%, while the Russell 2000 edged up 0.18%. The Technology sector was the top performer, up 1%. Notable gainers included Super Micro Computer, Palantir Technologies, Broadcom Inc., Oracle Corporation, IBM, and Qualcomm, each advancing 2% or more. Cruise liners were standout stocks during the session. Norwegian Cruise Line Holdings surged over 10% after Citigroup upgraded the stock to a "Buy" rating. Carnival Corporation and Royal Caribbean Group also posted strong gains, rising 7% and nearly 5%, respectively. Some household-name stocks that hit new 52-week highs included Netflix, PayPal Holdings, and The Home Depot.