As known from:
CoinWireICOBenchCoinCodex
Write a Review
Write a Review
Nothing Found
Contains commercial content
TradersBest.com / NASDAQ Reaches 16,000 For The First Time While Dow Drops

NASDAQ Reaches 16,000 For The First Time While Dow Drops

Publish Date: 23/11/2021

The NASDAQ Composite Index closed above 16,000 for the first time last week. This marked the second consecutive best-ever close for the stock exchange and it comes amid fears that the Covid-19 pandemic could strike back over the winter months.

Many of the best performers in the NASDAQ were technology stocks, whereas the blue chip companies that power the Dow Jones suffered as a result of losing market confidence in how some European nations were reintroducing lockdown measures in a bid to stave off the virus.

It was a great week for the NASDAQ that was up 1.2% and a welcome return to form after declines the previous week. Although the stock exchange was back down to 15,854 at the time of this report, the overall trend is positive towards tech stocks.

For example, a recent financial report from Zoom beat quarterly revenue estimates with a 35% revenue growth which then led to a 6.4% rise in share price. The video conferencing platform has successfully managed to release new products targeting those who are returning to schools, colleges and offices.

While some tech companies may have suffered a slowdown in revenue growth since the easing of pandemic restrictions, the most enterprising brands like Zoom have found ways to ensure that their products stay relevant.

FAANG stocks (Meta, Amazon, Apple, Alphabet and Netflix) in particular enjoyed a real return to form, while the Nvidia chipmaker stock price rose by just over 4%. Other good performers included Innoviz Technologies that saw a 25% rise, while Aurora Innovation added 13%. Both of these companies are heavily linked with Apple’s electric car project that was recently rumored to be launching in 2025.

Other key features of the tech resurgence included Alphabet hitting the $2 trillion market cap valuation mark. The impressive rise of the NASDAQ stock exchange is also thought to be helped by the Federal Reserve keeping interest rates low while the employment market enjoyed improved figures this fall.

Pandemic concerns hit the market

While the NASDAQ enjoyed a strong week, other sectors were hard hit by fears that the pandemic could return. Several European nations such as Austria have reintroduced some form of lockdown measures in a bid to halt rising case numbers, and there are real fears that such restrictions may have to be introduced in the US.

As such, there was a marked drop in the energy markets as crude prices fell as a result of a lowering in expected demand. The S&P energy index reflected this with a fall of 3.9% across the week, while banking stocks fell by 1.6%. Such negative patterns were echoed across the travel industry with major airlines such as Delta, United and American all reporting drops in their share prices.

However, it wasn’t all bad news as the retail sector appears to be set for a good festive season. With strengthening consumer spending, it looks like there could be mixed fortunes ahead on what is sure to be another unpredictable festive season.

Read Also
Mixed Market News as Second Quarter Begins
There was mixed news on the markets as Wall Street began its ...
Massive Tech Stock Slump Amid Interest Rate Rise Fears
Shares in US tech stock suffered a calamitous day on the markets ...
Santa Claus Rally Boosts US Markets
The so-called ‘Santa Claus rally’ of trading in the week between Christmas ...
US Stocks Slump Following Omicron Concerns and Biden’s Stalled Spending Plan
It’s been a bruising start to the week for the US stock ...
European Energy Crisis Worsens Ahead of Winter Months
Market analysts expect record high prices in the European energy sector to ...
Latest News
Study: how do finances shape our love life?
Do we find someone less attractive if they're ...
Is FTX Bankrupt? 
The crypto market has seen a drastic change ...
Disney Shares Jump 6% After Positive Earnings Report
A booming subscriber base and the return of ...
Alibaba Posts Flat Revenue Growth But Stock Still Jumps 6%
Chinese ecommerce giant Alibaba posted its first earnings ...
Intel Stock Slumps Over 8% Following Weak Earnings Report
Chip-maker Intel suffered a disastrous end to last ...
Top Forex Sites
Ally Invest
Ally Invest
Ally Invest Review
4.8/5
Interactive Brokers
Interactive Brokers
Interactive Brokers Review
4.8/5
Webull
Webull
Webull Review
4.6/5
Kraken
Kraken
Kraken Review
4.3/5
Nadex
Nadex Review
3.6/5
Receive the latest trading news by email + our free eBook
Crypto eBook EN
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Receive the latest trading news by email + our free eBook
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Close
×
Your Promo Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site