S&P 500 Bounces Up as Tech Stocks Rally on Economic Optimism

On Thursday, the S&P 500 supplemented modest gains, led by strength in tech stocks, as investors became optimistic on economic recovery. 

Accordingly, market sentiment improved after the Federal Reserve signalled that the asset tapering could start as soon as next month. 

The S&P 500 index jumped 0.30% or 13.15 points to $4,363.80 per share. 

At the same time, the Nasdaq Composite index rose 0.73% or 105.71 points to $14,571.64 per share. 

Inversely, the benchmark Dow Jones Industrial Average traded flat as it plunged 0.001% or 0.53 points to $34,377.81. 

Remarkably, most of the American tech giants traded green. 

Google-parent Alphabet improved 0.83% or 22.70 points to $2,751.60 per share. 

Likewise, Amazon.com elevated 1.14% or 36.95 points to $3,284.28 per share. 

Also, Netflix amplified 0.77% or 4.82 points to $629.76 per share. 

It is the same with Facebook as it climbed 0.24% or 0.77 points to $324.54 per share. 

Subsequently, financial stocks posted an extensive plunge in the S&P 500. 

For instance, the investment banking company JPMorgan Chase lost 2.64% or 4.36 points to $161.00 per share. This is after its third-quarter earnings came in better than analysts’ expectations.

Remarkably, airline stocks also plummeted as S&P500 hiked. 

In particular, Delta Air Lines dropped 5.76% or 2.51 points to $41.03 per share. It fell after it warned the market that the soaring fuel prices would weigh down its Q4 bottom line. 

Then, Southwest Airlines shed 1.78% or 0.93 points to $51.25 per share after it piled up more than 2,200 flight cancellations. 

World Shares Mixed as S&P 500 Up

In the Asia-Pacific, Japan’s Nikkei 225 index edged up 1.46% or 410.65 points to $28,550.93 per share. 

Then, the broader TOPIX index extended 0.67% or 13.14 points to $1,986.97 per share. 

In China, the Shanghai Composite index plunged 0.08% or 2.83 points to $3,558.93 per share. 

Correspondingly, the Shenzhen Component index tumbled 0.05% or 7.48 points to $14,345.60 per share. 

Elsewhere, Australia’s S&P/ASX 200 index increased 0.54% or 39.20 points to $7,311.70 per share. 

Also, European stocks hiked as the S&P 500 index posted gains. 

In Germany, the MDAX performance index soared 0.39% or 132.59 points to $33,757.26 per share. 

Moreover, the DAX 40 index surged 0.68% or 102.51 points to $15,249.38 per share. 

Furthermore, London’s FTSE All-Share index escalated by 0.26% or 10.66 points to $4,070.20 per share. 

Read also: ProfitiX review | Should you choose ProfitiX?