New York, April 27, 2024 (Financeflashnews) – U.S. stocks ended the week on a positive note, with the broad-based S&P 500 and the tech-heavy Nasdaq posting their biggest weekly gains since November, driven by a rally in big tech names.
- The S&P 500 rose 1.02% on Friday to settle at 5,099.96.
- The Nasdaq jumped 2.03% to 15,927.90, marking its biggest daily gain since February, thanks largely to a surge in Alphabet shares.
- The Dow Jones Industrial Average gained 153.86 points, or 0.40%, to close at 38,239.66.
Weekly performance:
- The S&P 500 and Nasdaq notched their best week since November 2023, gaining 2.7% and 4.2%, respectively.
- The S&P 500 snapped a three-week losing streak.
- The Nasdaq posted its first positive week in five.
- The Dow Jones added 0.7% for the week.
Outlook:
The direction of the stock market will be influenced by various factors, including expectations for interest rate hikes, inflation, and the geopolitical landscape. Investors will also be closely watching corporate earnings reports for the second quarter.
Key statistics for the week ending April 27, 2024:
U.S. stock indexes:
- S&P 500: Up 2.7% for the week, closing at 5,099.96.
- Nasdaq: Up 4.2% for the week, closing at 15,927.90.
- Dow Jones Industrial Average: Up 0.7% for the week, closing at 38,239.66.
Notable events:
- The S&P 500 and Nasdaq had their best week since November 2023.
- The S&P 500 snapped a three-week losing streak.
- The Nasdaq posted its first positive week in five.
- The Dow Jones added 0.7% for the week.
Other notable market developments:
- U.S. Treasury yields rose this week, as investors priced in expectations for further interest rate hikes from the Federal Reserve.
- European stocks were mixed this week, as investors awaited the outcome of the European Central Bank’s policy meeting.
- Asian stocks were mostly higher this week, as investors cheered signs of easing COVID-19 restrictions in China.
Looking ahead:
Investors will be watching closely for the following events in the coming week:
- Earnings reports: Several major companies are scheduled to report their quarterly earnings, including Apple, Amazon, and Microsoft.
- Economic data: The release of key economic data, such as GDP growth and consumer spending, will provide fresh insights into the health of the U.S. economy.
- Fed meeting: The Federal Reserve is scheduled to hold its monetary policy meeting, where it is expected to announce another interest rate hike.
These events could have a significant impact on the stock market in the coming week. Investors should stay tuned for the latest news and developments.
