The stock market rally continues, driven by significant gains from Microsoft and Nvidia

Nvidia microsoft

The stock market rally continues, driven by significant gains from Microsoft and Nvidia.

The bull market rally continues to boost market confidence this week. Wall Street’s main indexes head to the close this week with significant gains, particularly tech stocks. The rally in the IPO market continues to be boosted by increasing signs of life after the Fed’s sudden interest rate pause decision this Wednesday.

The pause came after a series of 10 consecutive increases over the course of 15 months, including four significant hikes of 75 basis points in the previous year, followed by a half-point increase and three quarter-point hikes this year.

Add to that a rebound in the manufacturing and technology sectors, and the stock market is giving us a glimpse of the pre-Covid days.

As for the stock market and the main indexes:

As of 14:13 am ET, the S&P 500 benchmark was up by 0.13% to 4,427.16 basis points, and the Nasdaq composite, where charts were mixed, was down by 0.03%. Still, experts see an opportunity for a positive closing session. The Dow Jones Industrial Average jumped by 0.07% to 15.393.15 basis points.

The stock market on Wall Street is headed to finish the week with significant gains. Both the S&P 500 and the Nasdaq Composite have experienced a rally, reaching their highest levels since August 2022. This surge follows the Federal Reserve’s recent policy decision, the first interest hike since March 2022.

Moreover, the Nasdaq Composite, which consists of many technology-focused companies, has been the strongest performer this year. It has surged by 31.7% year-to-date, indicating substantial growth. In comparison, the S&P 500, which is considered a benchmark for the overall market, has increased by 15.7%. The Dow Jones Industrial Average, consisting of blue-chip stocks, has seen a more modest gain of 4%. Despite market fears and past economic waves, the market figured its way through the chaotic storm.

These numbers reflect the performance of the stock market up until my knowledge cutoff date in September 2021. Keep in mind that the stock market is highly volatile and subject to change. It is always advisable to consult up-to-date financial information and seek advice from a qualified financial professional before making any investment decisions.

Naturally, the stock market will rally after the interest rate pause announcement. Plus, we might see a delay in the CPI report, which will be released in July, due to its base effects.

Market analysis forecasts that we might even see a CPI report below 3%, which could be surprisingly positive for investors and a huge indicator for departing inflation.

Meanwhile, in the individual stock market, the technology sector is being driven higher by Microsoft Corporation (NASDAQ:MSFT) and other prominent tech companies. Microsoft achieved a record-high closing price on Thursday, reaching a remarkable market value of over $2.5 trillion. Additionally, NVIDIA Corporation (NASDAQ:NVDA), a leading chip manufacturer that recently joined the trillion-dollar club, experienced a 2.1% increase on Friday, reaching a new 52-week high.

Written by Editor

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