On Wall Street, the indexes rose today, which is mostly due to the growth in the prices of the shares of the technology giants, which have led the way in terms of growth this whole year.
The Dow Jones gained 0.16 percent, to 42,906 points, while the S&P 500 rose 0.73 percent, to 5,974 points, and the Nasdaq index 0.98 percent, to 19,764 points.
In calm pre-Christmas trading, there was no significant news that could affect the market.
The growth of the index is mainly due to the increase in the prices of the so-called shares. The ‘Seven Magnificent’ Tech Stocks.
Share prices of Meta Platforms, Nvidia and Tesla rose between 2.3 and 3.7 percent, followed by the prices of Apple, Amazon.com, Microsoft and Alphabet with somewhat milder growth.
It is about the usual “make-up” of the portfolio at the end of the year, when investors buy those stocks that have grown the most during the year.
Historical data shows that since 1969, the S&P 500 has risen an average of 1.3 percent in the last five days of the year and the first two days of the new year, a period popularly known as the ‘Rise of Santa Claus’.
Since the beginning of this year, the Dow Jones index has risen by about 13 percent, the S&P 500 by about 25 percent, and the Nasdaq index by more than 30 percent.
Such strong growth is thanks to the euphoria about the development of artificial intelligence, the Fed’s interest rate cuts and the victory of Donald Trump in the US presidential election, as he is expected to contribute to the growth of the economy with his policies and implement deregulation in several areas.
And on most European stock exchanges, indices fell yesterday. Admittedly, the London FTSE strengthened by 0.22 percent, to 8,102 points, but the Frankfurt DAX slipped 0.18 percent, to 19,848 points, and the Paris CAC 0.03 percent, to 7,272 points, reports Hina.
