Market Recap – August 14th
The S&P 500 exhibited a confident ascent on Monday, buoyed by substantial gains in several prominent tech players. As the clock struck midday, the index showcased a resilient climb of 0.4%, comfortably resting at 4,480.93. Notably, Nvidia (NVDA) and Micron Technology (MU) emerged as frontrunners, achieving remarkable upswings of 5% and 4.6%, respectively.
This dynamic surge was particularly notable considering both stocks had grappled with downward trends throughout the preceding week. The robust rally arrives on the heels of a comparatively sluggish start to August for the tech sector. A palpable contrast was evident as the Nasdaq Composite, which had experienced its most pronounced two-week dip since December 16, 2022, rallied with a renewed vigour, surging by 0.5% on Monday. In addition to the tech surge, the healthcare domain emerged as another stalwart contributor, further bolstering the market’s verdant complexion. Meanwhile, the Dow Jones Industrial Average, while marginally retreating by 0.07%.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.