S&P 500 rides Microsoft, Amazon to record close above 4,000

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The S&P 500 closed above 4,000 for the first time in history, lifted by gains in tech shares and investors’ optimism about the economy’s recovery

Microsoft, Amazon, Alphabet and Nvidia jumped 2% or more, with those and other growth stocks showing signs of awakening after lagging in recent weeks behind so-called value stocks expected to outperform as the economy recovers from the coronavirus pandemic.Data showed the number of Americans filing new claims for unemployment benefits rose unexpectedly last week.

Trading volume on U.S. exchanges was light at 10.5 billion shares, compared with a 13 billion average over the last 20 trading days. Micron Technology Inc jumped 4.8% after the chipmaker forecast fiscal third-quarter revenue above Wall Street estimates due to higher demand for memory chips, thanks to 5G smartphones and artificial intelligence software.

The CBOE volatility index slipped below 18 points for the first time in 14 months, a level last seen before the coronavirus-driven global financial market meltdown in March 2020.

 

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According to Trump there was supposed to be a country with no S and P, no Dow, no Nasdaq, all were suppose to crash, after this people do not believe a word that comes out of the mouth of Trump or the GOP !!!!!!!!!!

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