Yesterday, U.S stock futures started off on a positive note. Stocks were up and S&P500 did a fantastic job. The companies listed under S&P outperformed and the S&P was four-month high yesterday. According to experts, energy shares were relatively cheaper than the crude prices. Yesterday, eight of 10 industry groups under S&P advanced as the gains in technology; commodity and consumer shares had overpowered early declines spurred by reports showing an increase in jobless claims and a slump in manufacturing.
Intel Corp and Nvidia Corp led the semi conductor shares to the highest level. According to Chalupnik, senior managing director at First American Funds said: “if we can get through this high-risk period of a U.S. recession, and we appear to be skirting that, technology will be a likely beneficiary. We are positive on the retailers and the consumer is not totally rolling over.”
Intel Corp and Nvidia Corp led the semi conductor shares to the highest level. According to Chalupnik, senior managing director at First American Funds said: “if we can get through this high-risk period of a U.S. recession, and we appear to be skirting that, technology will be a likely beneficiary. We are positive on the retailers and the consumer is not totally rolling over.”
S&P 500 was up by 1.1 percent, to 1,423.57 and Dow Jones Industrial Average increased by 0.7 percent, to 12,992.66 and the greatest Nasdaq Composite Index gained 1.5 percent, to 2,533.73. (figures by bloomberg.com)
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