The NASDAQ index closed at a new record high after a gain of 90.31 points or 0.45%. The closing level at 21,798.70, extended above the high closing level from August 13 at 21713.14. A new intraday high was also reached at 21,885.62..
Looking at the other indices:
- Dow industrial average rose 114.09 points or 0.25% at 45,514.95.
- S&P index rose 13.65 points or 0.21% at 6495.15
- Russell 2000 rose 3.84 points or 0.16% at 2394.89.
Some winners included:
Robinhood Markets (+15.80%) – Leading the pack on strong retail trading momentum, with investors piling into risk-on names and platforms that benefit from higher trading volumes.
Alibaba ADR (+4.16%) – Gains tied to improved sentiment toward Chinese tech and optimism about policy support in Beijing, sparking a relief rally across China-linked ADRs.
Uber Tech (+3.70%) – Lifted by ongoing strength in consumer demand and optimism around ride-sharing profitability as fuel costs stabilize.
Live Nation Entertainment (+3.57%) – Rally supported by solid event demand and expectations for resilient consumer spending on entertainment, despite broader economic headwinds.
Broadcom (+3.26%) – Riding the semiconductor wave, with chipmakers broadly stronger on AI and data-center demand tailwinds. Riding the earnings from last week.
IBM (+3.05%) – Catching a bid on tech rotation and safe-haven qualities, as its hybrid cloud and AI exposure continues to attract institutional interest.
Papa John’s (+3.01%) – Consumer discretionary strength, as defensive food-service names gain traction with steady sales despite inflationary pressures.
Adobe (+2.78%) – Benefiting from AI-driven investor enthusiasm and steady software demand, with traders positioning ahead of earnings. I keep on getting subscription requests for PDFs.
GameStop (+2.76%) – Meme-stock momentum back in play, with retail traders reigniting speculative buying after recent pullbacks.
Cadence Design (+2.74%) – Chip design software provider gaining alongside semis, as EDA tools remain essential in the AI and advanced manufacturing cycle.
CrowdStrike (+2.50%) – Cybersecurity strength continues as enterprises prioritize digital defense spending, keeping demand outlook strong.
Tencent ADR (+2.22%) – Boosted by broader China tech rebound and easing regulatory concerns, improving investor appetite for mega-cap Chinese names.
Looking at the different S&P sectors, information technology led the way with a gain of 0.67% while utilities was the biggest drag with a decline of -1.07%:
Information Technology (S5INFT) +0.67%
Consumer Discretionary (S5COND) +0.53%
Materials (S5MATR) +0.23%
Industrials (S5INDU) +0.21%
Financials (SPF) +0.02%
Energy (SPN) -0.15%
Consumer Staples (S5CONS) -0.17%
Health Care (S5HLTH) -0.12%
Telecommunication Services (S5TELS) -0.31%
Real Estate (S5REAS) -0.68%
Utilities (S5UTIL) -1.07%
