S&P 500 closes just below all-time high as tech stocks lead the rally

13.08.2020 - Evdokimov Roman
S&P 500 closes just below all-time high as tech stocks lead the rally

The S&P 500 index last traded inches below a record high on Wednesday, with the rally led by tech stocks and hopes for a swift economic recovery from the COVID-19 pandemic.

The index rose by 1.37% to 3,379, cutting in close to February’s high of 3,386. Meanwhile, the Down Jones Industrial Average gained by 289 points, or 1.05% and Nasdaq Composite was up 2.1%.

The majority of gains made in the S&P 500 were led by tech giants such as Apple, Amazon.com, Microsoft, Facebook, and Alphabet, with each seeing their stocks rise more than 1%.

Energy stocks also contributed to the gains after government data showed weekly crude inventories in the U.S. were cut back by 4.5 million barrels, easing supply and demand concerns.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 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 Market solutions 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 umarkets.ai or Market Solutions limited." 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?