U.S. stocks climbed on Friday, finishing the volatile week on a high note as stocks benefiting from a successful economic reopening outperformed again.
The Dow Jones Industrial Average closed 453.40 points higher, or 1.4%, to 33,072.88. The blue-chip benchmark was up only 65 points earlier in the day. The S&P 500 rose 1.7% to 3,974.54, hitting a record closing high and bringing its 2021 gains to 5.8%. The Nasdaq Composite erased a 0.8% loss and ended the session 1.2% higher to 13,138.72.
All three major benchmarks rallied to their session highs into the close with the Dow jumping tacking on more than 150 points in the final 8 minutes of trading. It was broad-based late buying. Beaten-up tech like Apple rallied into the green in the final minutes. Banks, energy and materials were all big winners in the final minutes and on the day.
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Hi Uncle8888,
ReplyDeleteStrong institutional buying at the end.
Another first: first time S&P500 fear gauge VIX has a weekly close below 20 since Feb 2020.
The character of the market has changed.
US Bull continues to cheong for new records but SG Bull will slowly climbing up to the last peak or no chance? LoL
DeleteHaha like I said couple months ago, STI and emerging markets may see another 2003-2007 type of performance.
DeleteFingers crossed lol.
Hi Spur,
DeleteSTI's performance this week is encouraging. Around the middle of this week, U.S market and Hong Kong market looked like dying but they showed signs of coming back to life on last day of the week. STI, however, was strong and steady throughout the week.
As a Singaporean, I hope to see your prediction coming true.
What is the right price? LOL!
ReplyDeleteGood to have some small fun trading that doesn't hurt us when it goes against us; but can feel shiok when it goes right and shoot up! Watching market without some real participation is boring!
ReplyDelete