|Day's range||10,447.01 - 10,622.35|
|52-week range||6,631.42 - 10,622.35|
Stocks rose Friday, and the Nasdaq Composite hit yet another record high, after Gilead Sciences announced that its remdesivir treatment reduced the risk of death for Covid-19 patients, based on new data from the company.
Here we highlight technology ETFs that have gained more than 25% year to date, defying the coronavirus-led hurdles in 2020.
Wall Street stocks jumped Friday, with the Nasdaq racing to yet another record as progress on a coronavirus vaccine offset worries about spiking US case levels. The Dow Jones Industrial Average rose 1.4 percent to end the week at 26,075.30, while the broad-based S&P 500 advanced 1.1 percent to close at 3,185.04. Investors cheered remarks from the head of German biotech firm BioNTech to the Wall Street Journal that a vaccine candidate would be ready for regulatory review by the end of the year.
The stock market has posted an amazing rebound from its March lows, but the real standout among major market benchmarks has been the Nasdaq Composite (NASDAQINDEX: ^IXIC). Tesla (NASDAQ: TSLA) and Zoom Video Communications (NASDAQ: ZM) have been among the top performers in the stock market lately, and today both companies saw their stocks move to new record levels. For Tesla, momentum seems to be unstoppable right now, even as short-sellers remain skeptical of the electric vehicle maker's prospects.
Wall Street stocks were mostly higher early Friday in choppy trading as markets assess the potential economic fallout from rising coronavirus cases in the US, the world's biggest economy. The broad-based S&P 500 gained 0.3 percent to 3,161.51, while the tech-rich Nasdaq Composite Index shed 0.1 percent to 10,540.87, pulling back slightly from a record. Investors have largely shrugged off the jump in coronavirus cases in Florida, Texas and other states, partly because the US death rate has been much lower than earlier this spring.
Wall Street closed mixed on Thursday growing concerns about the second wave of the coronavirus dented investors' confidence.
The S&P 500 climbed 1%, and the biggest gains came from cruise ship operators, airlines, banks and other companies that most need the economy to continue to reopen and strengthen. The S&P 500 rose 32.99 to 3,185.04.
2020 has been a tale of two markets, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has definitely been the big winner. Both the Composite index and the Nasdaq 100 Index reached new highs, climbing around 0.5% and 1%, respectively, even as other market benchmarks fell. Meanwhile, Amazon.com (NASDAQ: AMZN) raced to new record heights, and while some are concerned about the nearly uninterrupted ascent for the tech giant, there are solid reasons why Amazon is doing as well as it is.
The Nasdaq finished at another record Thursday, but the Dow and S&P 500 retreated as markets weigh the economic toll from the spike in coronavirus cases in many US states. The tech-rich Nasdaq Composite Index climbed another 0.5 percent to close at 10,547.75, its fifth record close in the past six sessions. The Dow Jones Industrial Average dropped 1.4 percent to end the day at 25,706.09, while the broad-based S&P 500 slid 0.6 percent to 3,152.05.
Stocks abruptly turned negative Thursday as fears over the economic outlook following an increase in coronavirus cases resurged. The Dow and S&P 500 wiped out their week to date gains.
This market veteran offers a grim assessment on markets if Joe Biden's tax plan goes through should he win the presidency.
The stock market has done well lately, but Thursday morning brought a quick reversal to its recent gains. New data showed that first-time claims for unemployment benefits remained at elevated levels, with this week's 1.31 million number extending a streak of more than 1 million claims every single week since mid-March. The S&P 500 (SNPINDEX: ^GSPC) had fallen 39 points to 3,131, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had dropped 69 points to 10,424.
Wall Street stocks opened mostly lower Thursday, although the Nasdaq added to records as tech shares continued to outperform the broader market amid the COVID-19 recovery. The broad-based S&P 500 shed 0.2 percent to 3,163.36, while the tech-rich Nasdaq Composite Index gained 0.3 percent to 10,525.67, adding to record levels. US jobless claims came in at 1.3 million last week, an exceptionally high number historically speaking, but down 99,000 from the prior week, showing a steady decline as the world's largest economy gradually reopens and workers are recalled to their jobs.
The United States saw more than 60,000 new COVID-19 infections on Wednesday, setting a single-day global record while Florida and Texas reported a record one-day increase in deaths. Walgreens Boots Alliance Inc <WBA.O> tumbled 8.2% after it reported a quarterly loss compared with a profit a year earlier, hurt by non-cash impairment charges of $2 billion as COVID-19 disrupted business at its Boots UK division. S&P 500 companies are expected to post the biggest quarterly decline in earnings since the financial crisis, based on IBES data from Refinitiv.
U.S. stock markets closed higher on Wednesday supported by strong performance of large-cap technology stocks.
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Equity markets have pushed higher in Asia following an impressive last hour rally on Wall Street yesterday.
Here we pick five large-cap Nasdaq stocks that are positioned to grow on solid prospects in the rest of 2020.
Global stocks slipped on Thursday after an uptick of coronavirus deaths in Florida rekindled fears that the outbreak could hinder the fragile US economic recovery. The S&P 500 closed 0.6 per cent lower, led by stocks sensitive to consumer spending and virus-related restrictions such as United Airlines, which fell 7.3 per cent. The tech-heavy Nasdaq rose 0.5 per cent to a fresh record, as reliance on online activities remained high. States including Florida, Texas and Arizona have suffered a rise in coronavirus cases for some time, without a related acceleration in deaths.
Stocks turned lower shortly before 16:00 GMT after a senior Fed official said the central bank may slow the pace of its corporate bond purchases.