Major Wall Street indices began to decline, but the S&P 500 continued to grow, hitting $ 4,200 per share. According to reports, this is caused by investors expecting strong financial reports from companies this first quarter, since the US is on its way to recovering from the coronavirus pandemic.
Aside from that, there is renewed interest in tech stocks, not to mention the series of good economic data from many states.
This rally of the S&P 500 is the largest gain since August 2020. And this week, growth may continue as approximately 79 S&P 500 companies are due to report earnings this week. This includes Netflix Inc, Intel Corp, Honeywell, Johnson & Johnson, and Schlumberger.
Also, over the past 52 weeks, the S&P 500 has posted 47 new highs and has not shown any new lows. On the other hand, the Nasdaq Composite recorded 107 new highs and 35 new lows.
All in all, the growth of the index amounts to more than $ 2,000, climbing from 2.190 points to 4.191 points.
