17.6 C
New York
Saturday, September 25, 2021
HomeStock investingStock market today August 24, 2021

Stock market today August 24, 2021

Stock market today

Another higher close for the US stock market today, as all major stock indexes closed higher. Small-cap stocks outperformed. The closing figures for the US stock market today follow:

S&P 500: 4,486.23,+6.70(+0.15%)
Dow 30: 35,366.26,+30.55(+0.09%)
Nasdaq: 15,019.80,+77.15(+0.52%)
Russell 2000: 2,230.91,+22.61(+1.02%)

Stock market news today

“Stocks gained on Tuesday, reaching fresh all-time highs as optimism over earnings and the economic reopening at least temporarily outweighed lingering concerns over the virus and changes to monetary policy.

The S&P 500 edged up to fresh record intraday and closing highs. Big Tech stocks including (AMZN) added to gains, and the Nasdaq outperformed to also set new record levels. “Reopening” stocks including the airlines and cruise lines also increased after rising on Monday, with optimism over a broader leisure and travel recovery coming after the U.S. Food and Drug Administration granted full approval to Pfizer (PFE) and BioNTech’s (BNTX) COVID-19 vaccine.

Shares of Chinese technology companies rose, shaking off the past several weeks’ steep declines amid a regulatory crackdown of the major tech firms in China. The jump came after Ark Investment Management — run by the closely watched investor Cathie Woods — scooped up shares of Chinese e-commerce company JD.com (JD) following the firm’s better-than-expected quarterly results. Peers including Alibaba (BABA) and Baidu (BIDU) also advanced, and the Hang Seng index (^HSI) increased by 2.5%.

Investors are also eagerly awaiting the Federal Reserve’s virtual Jackson Hole Symposium beginning on Thursday. The event is expected to serve as another forum for central bank officials to discuss their assessment of economic conditions, and offer hints as to when the Fed might announce and eventually begin the process of tapering its crisis-era asset purchase program.

New economic data out at the start of the week disappointed relative to Wall Street’s estimates, with an index tracking activity in the U.S. services sector cooling to an eight-month low as concerns over the Delta variant started to weigh on demand.

Despite the ongoing risks around the virus, however, three major factors have served to help keep equity markets marching toward fresh all-time highs, according to one strategist.”

Stock market data: Yahoo Finance

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular