{"id":105437,"date":"2021-01-25T16:28:44","date_gmt":"2021-01-25T16:28:44","guid":{"rendered":"https:\/\/fin2me.com\/?p=105437"},"modified":"2021-01-25T16:28:44","modified_gmt":"2021-01-25T16:28:44","slug":"nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/","title":{"rendered":"Nasdaq hits record high on big hopes for big-tech earnings"},"content":{"rendered":"

(Reuters) – The Nasdaq index hit a record high on Monday as investors remained optimistic at the start of a busy week of earnings from mega-cap technology companies, while economy-sensitive cyclical stocks gave back recent gains.<\/p>

FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS\/Shannon Stapleton\/File Photo<\/figcaption>

The so-called \u201cstay-at-home\u201d winners including Microsoft Corp, Facebook Inc and Apple Inc rose between 1.7% and 4.3%, following upbeat results from Netflix Inc last week.<\/p>\n

Microsoft, scheduled to report results on Tuesday, rose 0.7% as Wedbush raised its price target on the software maker\u2019s stock on expectations of further growth in its cloud business for 2021.<\/p>\n

\u201cAll eyes are on tech as it now has a chance to regain some of the strength that it lost in recent months,\u201d said Thomas Hayes, chairman of Great Hill Capital in New York.<\/p>\n

The S&P 500 technology sector rose 1.1%, while Tesla Inc added 6.1% ahead of its quarterly results on Wednesday.<\/p>\n

Earnings for S&P 500 companies are expected to rise 23.7% this year after falling 14.1% in 2020, according to Refinitiv.<\/p>\n

Investors were hopeful that officials in President Joe Biden\u2019s administration could head off Republican concerns that his $1.9 trillion pandemic relief proposal was too expensive, even as lawmakers from both parties agreed that getting the COVID-19 vaccine to Americans should be a priority.<\/p>\n

\u201cWe\u2019re focused on two things this week, whether big-tech can deliver, which we are pretty optimistic about, and whether Congress can move ahead with the stimulus package that the market is anticipating,\u201d Hayes said.<\/p>\n

Wall Street\u2019s main indexes touched record highs last week on hopes of a full economic reopening and efficient distribution of vaccines across the country, which is suffering from more than 175,000 new COVID-19 cases a day with millions out of work.<\/p>\n

However, the Dow Jones Industrial Average index and the S&P 500 struggled to keep up with the tech-heavy Nasdaq\u2019s rally, as recent gainers including sectors such as financials, energy, industrials and materials all took a beating on Monday.<\/p>\n

At 10:00 a.m. ET the Dow Jones Industrial Average fell 172.22 points, or 0.55%, to 30,824.76, the S&P 500 gained 10.10 points, or 0.26%, to 3,851.52, and the Nasdaq Composite gained 169.61 points, or 1.25%, to 13,712.89.<\/p>\n

Merck & Co Inc fell 0.8% after the drugmaker said it would stop development of its two COVID-19 vaccines citing inferior immune responses.<\/p>\n

Advanced Micro Devices Inc added 1.3% after RBC raised its price target on the chipmaker\u2019s shares.<\/p>\n

Videogame retailer GameStop Corp surged 52.2%, after having already gained about 250% since the beginning of 2021. Traders noted that the jump in shares could be short-sellers quickly buying back into the stock to cover potential losses and retail investors piling in to benefit from the surge.<\/p>\n

Declining issues outnumbered advancers for a 1.3-to-1 ratio on the NYSE and matched them on the Nasdaq.<\/p>\n

The S&P 500 posted 19 new 52-week highs and no new low, while the Nasdaq recorded 356 new highs and six new lows.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – The Nasdaq index hit a record high on Monday as investors remained optimistic at the start of a busy week of earnings from […]<\/p>\n","protected":false},"author":3,"featured_media":105436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nNasdaq hits record high on big hopes for big-tech earnings - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nasdaq hits record high on big hopes for big-tech earnings - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – The Nasdaq index hit a record high on Monday as investors remained optimistic at the start of a busy week of earnings from [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-25T16:28:44+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/01\/cnewsfotor-4.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/\",\"url\":\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/\",\"name\":\"Nasdaq hits record high on big hopes for big-tech earnings - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-01-25T16:28:44+00:00\",\"dateModified\":\"2021-01-25T16:28:44+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/fin2me.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Nasdaq hits record high on big hopes for big-tech earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nasdaq hits record high on big hopes for big-tech earnings - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/","og_locale":"en_US","og_type":"article","og_title":"Nasdaq hits record high on big hopes for big-tech earnings - Fin2me","og_description":"(Reuters) – The Nasdaq index hit a record high on Monday as investors remained optimistic at the start of a busy week of earnings from [...]","og_url":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/","og_site_name":"Fin2me","article_published_time":"2021-01-25T16:28:44+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/01\/cnewsfotor-4.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/","url":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/","name":"Nasdaq hits record high on big hopes for big-tech earnings - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-01-25T16:28:44+00:00","dateModified":"2021-01-25T16:28:44+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/business\/nasdaq-hits-record-high-on-big-hopes-for-big-tech-earnings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/fin2me.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Nasdaq hits record high on big hopes for big-tech earnings"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/105437"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=105437"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/105437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/105436"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=105437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=105437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=105437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}