Nasdaq reaches record high, S&P 500 inches close as tech shares rally

18.08.2020 - Kulakov Vladimir
Nasdaq reaches record high, S&P 500 inches close as tech shares rally

Nasdaq last traded at a record high while the S&P 500 closed just four points shy of an all-time high as tech stocks started the day on a strong note.

The S&P 500 index ended the day 0.3% higher, while the NASDAQ Composite was up by 1%. However, the Dow Jones Industrial Average fell by 0.31% to 86 points, as it struggled to keep up.

Out of the majority of S&P 500 companies who posted their earnings report on Friday, 81% reported better results, though expectations were lowered, according to data from Refinitiv. The remaining reports are due for the week.

The S&P 500 retailing index gained 1.4%, with Walmart Inc and Target Corp expected to post results before the end of the week. Home improvement chains such as Lowe’s Companies Inc and Home Depot were also up ahead of their earnings report.

Meanwhile, Chipmaker and tech giant Nvidia saw its shares hit record high as Susquehanna and Oppenheimer raised their price targets ahead of Wednesday’s quarterly results.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?