{"id":217046,"date":"2021-04-01T21:35:19","date_gmt":"2021-04-01T18:35:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sp-500-crosses-4000-for-the-first-time-ever\/"},"modified":"2021-04-01T21:35:19","modified_gmt":"2021-04-01T18:35:19","slug":"sp-500-crosses-4000-for-the-first-time-ever","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sp-500-crosses-4000-for-the-first-time-ever\/","title":{"rendered":"#S&P 500 crosses 4,000 for the first time ever"},"content":{"rendered":"

“#S&P 500 crosses 4,000 for the first time ever<\/strong>”
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The S&P\u00a0500\u00a0breached the 4,000 mark for the first time Thursday, powered by gains in technology<\/a> shares and optimism about a pickup in global economic activity.<\/p>\n

A mammoth vaccination drive and a massive fiscal stimulus are expected to drive a recovery in the labor market, prompting investors to look past latest data that showed a rise in the number of Americans filing new claims for jobless benefits last week.<\/p>\n

The closely watched monthly jobs report on Friday could show the US economy added 647,000 jobs in March, on top of a 379,000 increase in February.<\/p>\n

The 4,000 level \u201ccould be a possible inflection point where it renews<\/a> confidence that this bull cycle is not over and that equities can remain resilient in the face of heightened interest rates and perhaps a not as extremely accommodative Fed policy,\u201d said Matt Hanna, portfolio manager at Summit Global Investments.<\/p>\n

It took the benchmark index about a year-and-a-half to close the 1,000-point gap to 4,000, compared with about five years from 2,000 to 3,000 points.<\/p>\n

The blue-chip Dow is just 1 percent shy off a record high. The Nasdaq, however, is about 5 percent below its all-time high as a rapid rise in U.S. bond yields accelerated a rotation from richly-valued tech stocks to underpriced economy-linked stocks.<\/p>\n

Seven of the 11 major S&P sectors rose, with technology , communication services and energy gaining more than 1 percent.<\/p>\n

\u201cApril is usually a pretty good month for the market historically and I would expect that momentum to continue especially as we see the economy strengthen,\u201d said Larry Adam, chief investment officer at Raymond James.<\/p>\n

Micron Technology jumped 4.6 percent after the chipmaker forecast fiscal third-quarter revenue above Wall Street estimates due to higher demand for memory chips, thanks to 5G smartphones and artificial intelligence software.<\/p>\n

US-listed shares of rival Taiwan Semiconductor rose 3.8 percent on its plan to invest $100 billion over the next three years to meet the rising chip demand.<\/p>\n

The technology-heavy Nasdaq jumped 1.48 percent as \u201chigh flying\u201d stocks including Amazon, App<\/a>le, Google-parent Alphabet, Microsoft and Facebook<\/a> added between 1.1 percent and 2.4 percent.<\/p>\n

At 10:34 a.m. ET, the Dow Jones Industrial Average was up 123.69 points, or 0.38 percent, at 33,105.24, the S&P\u00a0500\u00a0was up 33.86 points, or 0.85 percent, at 4,006.84.<\/p>\n

The three main indexes are set to close out a holiday-shortened week with gains, led by Nasdaq. U.S. stock markets will remain shut for Good Friday holiday.<\/p>\n

The CBOE volatility index slipped below 18 points for the first time in 14 months, a level last seen before the coronavirus-driven global financial market meltdown in March 2020.<\/p>\n

Johnson & Johnson fell 0.5 percent after the drugmaker said it had found a problem with a batch of the drug substance for its COVID-19 vaccine being produced by Emergent Biosolutions, whose shares tumbled 14 percent.<\/p>\n

Advancing issues outnumbered decliners by a 2.80-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 2.0-to-1 ratio on the Nasdaq.<\/p>\n

The S&P index recorded 20 new 52-week highs and no new lows, while the Nasdaq recorded 99 new highs and 22 new lows.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#S&P 500 crosses 4,000 for the first time ever” The S&P\u00a0500\u00a0breached the 4,000 mark for the first time Thursday, powered by gains in technology shares and optimism about a pickup in global economic activity. A mammoth vaccination drive and a massive fiscal stimulus are expected to drive a recovery in the labor market, prompting investors…<\/p>\n","protected":false},"author":1,"featured_media":217047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/04\/sp-crosses-4000-mark.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[100353,71294,80348,72388,70359,70360],"class_list":["post-217046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-1-21","tag-records","tag-sp-500","tag-stock-market","tag-stocks","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/217046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=217046"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/217046\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/217047"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=217046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=217046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=217046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}