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HomeLatest NewsThe Nasdaq advances 2.66% driven by the massive cuts of the 'tech'

The Nasdaq advances 2.66% driven by the massive cuts of the ‘tech’

Date: June 5, 2023 Time: 02:38:39

After chaining two days of falls due to the intentions of the Federal Reserve (Fed), Wall Street was once again filled with green numbers, thanks to the push of the Nasdaq. The massive cuts announced by the big technologies, added to the good results of Netflix, caused strong rises of the ‘tech’ in the market.

At the end of the operations on the Big Apple Stock Exchange, its main index, the Dow Jones, grows 1.00% to reach 33,375.49 points, while the selective S&P 500 grows 1.89% to 3.972 .61 points. The best part was taken by the Nasdaq, which brings together the largest technology companies in the country, after climbing 2.66%, to reach 11,140.44 points.

Wall Street closed this Friday in the green and the Nasdaq Composite Index, which brings together the big technology companies, rose 2.66% driven by Netflix (8.46%) and Alphabet (5.34%).

Google parent Alphabet joined a long list of tech giants on Friday to announce massive job cuts. Microsoft (3.57%) and Amazon (3.81%) For its part, Netflix published this Thursday more subscribers than expected in its business results for its last quarter.

All sectors end the day in green and the biggest increases are for communications and technology, with growth of 3.96% and 2.72%, respectively. Among the 30 Dow Jones values, the gains with Walt Disney (4.44%), Microsoft and Salesforce (3.31%) also stand out, while among those that end in negative territory, Goldman Sach (-2.54%) stands out. .

In other markets, Texas oil rises to $81.31 a barrel, and at the close of the stock market gold rises to $1,929 an ounce, the ten-year bond yield rises to 3.479% and the dollar depreciates against the euro. with a change of 1.0855.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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