The NASDAQ index has been on a steady rise in recent weeks, with the index reaching its highest level since March 2020. This surge is being driven by a combination of positive news and economic indicators, as well as investor sentiment and behaviour.
Recent news has been largely positive, with the S&P 500 entering a bull market after the first quarter earnings crept out of the red according to Refinitiv data. This was accompanied by stocks popping after the S&P 500 entered a bull market, as well as the Nasdaq Composite notching a 7-week winning streak.
NASDAQ 100 Chart
Key economic indicators have also been driving this trend, including an increase in consumer spending and an uptick in jobless claims. These factors have contributed to an overall improvement in investor sentiment, which has led to increased trading activity and higher stock prices across the board.
The sectors driving this trend are varied, but some of the top performers include technology companies such as Apple and Microsoft, financial institutions such as Goldman Sachs and JPMorgan Chase, and healthcare companies such as Johnson & Johnson and Pfizer. These companies have all seen their share prices rise significantly over the past few weeks due to their strong fundamentals and innovative strategies that have allowed them to capitalize on emerging opportunities in their respective industries.
Investors should be encouraged by these trends as they indicate that there is still potential for growth in the stock market despite current economic conditions.
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- Lucy Walker covers finance, health and beauty since 2014. She has been writing for various online publications.
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