The Nasdaq, a tech-heavy index, gained 1.37%, indicating a positive Nasdaq forecast. Other broad indices also showed growth, though less pronounced. The Dow Jones Industrial Average and the S&P 500 rose by 0.17% and 0.80%, respectively, breaking a 3-day losing streak and finishing in positive territory.
Notably, tech stocks have seen significant growth, as reflected in the Nasdaq 100 forecast. Alphabet, Google’s parent company, surged by over 5%, likely due to its new Gemini AI model release. Nvidia and AMD also saw increases of 2% and an impressive 9% in a single day.
Overall, the Nasdaq performed well throughout the week, rising by 0.2%. In contrast, the S&P 500 and Dow Jones each fell by 0.2% and 0.4%, respectively, highlighting tech’s leading role in stock growth.
The end of the losing streak alleviated concerns about the stock rally as 2023 draws to a close. As the fourth quarter ends, all three indices seem poised to close higher, suggesting a positive overall impact on stocks.
The job market also influenced investor decisions. Weekly jobless claims were significantly below expectations, indicating fewer layoffs than anticipated. Private payroll data showed little change in new job creation, suggesting overall stability in the job market. This stability signals a healthy economic environment, potentially boosting the Nasdaq forecast further.
