Good sentiment related to the semiconductor sector and a strong US economy drives stock indices 📈
The US100 is gaining around 0.8% today, but it is off to new daily historic highs near 17240 points! The gains have been motivated by the return of positive sentiment in high-tech companies, most notably semiconductor manufacturing, or the companies that use them. Yesterday, in addition to the powerful bounce on TSMC - the world's most important chipmaker - we also saw a strong rebound in Nvidia shares (new historic peaks) and Apple, which uses TSMC products. TSMC's strong performance also suggests good results from Apple.
In addition, it is worth noting the good data from the US labour market. Yesterday, jobless claims again fell well below 200,000, showing the strength of US consumers. Market sentiment is also supported by the situation in the US. Congress passed a short-term bill funding the work of the government. The work of the government should continue until at least March 1.
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Create account Try a demo Download mobile app Download mobile appIt is worth mentioning that next week we will know the results of a number of companies listed on the Nasdaq. These will include companies such as Netflix, Tesla and IBM! If the results improve after a weaker 3 quarters of 2023, further gains on Wall Street may be warranted.
The US100 is reaching new all-time highs, motivated, among other things, by further gains of Nvidia. On the other hand, we are seeing a clear drop in bond prices, which means yields are rising and is not a very good sign for the stock market. Source: xStation5
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