In the recent trading session, the major stock indices all closed higher with the Dow and the Russell 2000 performing the best, while the Nasdaq lagged behind. The Dow Industrial Average saw a significant increase of 742.74 points or 1.85%, reaching a new record close at 40,954.49. This marks the 2nd consecutive record close for the Dow. The S&P index also rose by 36.40 points or 0.64%, closing at 5667.21, another record high. On the other hand, the NASDAQ index saw a more modest increase of 36.77 points or 0.20%, closing at 18509.34, with the all-time high reached last Wednesday at 18647.45. The Russell 2000 had a remarkable day, rising by 76.65 points or 3.50% to close at 2263.67, marking the 2nd day in the last 4 with gains of 3.5% or more.
Some big winners for the day included UnitedHealth (+6.48%), Caterpillar (+4.28%), Boeing (+3.89%), Home Depot (+2.96%), and Dow (+2.7%). However, only Amazon, Apple, and Tesla saw positive results among the Magnificent 7, with Meta Platforms, Nvidia, Alphabet, and Microsoft experiencing declines.
Looking at the year-to-date performance of the indices, there has been a shift in leaders over the last few days. The Dow Industrial Average is up by 8.66%, the S&P index has seen a gain of 18.81%, the NASDAQ is up by 23.3%, and the Russell 2000 has seen an increase of 11.67%. The Russell 2000 has shown significant growth, up by 5.37% for the week after rising 5.99% last week as it plays catch-up with the other indices. This indicates a positive trend in the stock market, with various indices reaching new record highs and showing overall growth year-to-date. Investors will be keeping a close eye on how these trends develop in the coming days and weeks.
