US Stocks Rise with Nasdaq Up 0.76% Amid Economic Optimism
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
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Source: NASDAQ.COM
- Positive Economic Data: Weekly initial jobless claims rose by 1,000 to 200,000, beating expectations of 209,000, indicating labor market resilience and boosting investor confidence in economic recovery.
- GDP Revision Upward: Q3 GDP growth was revised up by 0.1% to an annualized rate of 4.4%, surpassing the expected 4.3%, suggesting strong economic momentum that could further propel stock market gains.
- Surge in Natural Gas Prices: Natural gas prices rose over 3% to a three-year high due to an Arctic cold front increasing heating demand, which is expected to boost related stocks and invigorate the market.
- Strong Performance in Tech Stocks: The Magnificent Seven tech stocks saw significant gains, with Meta and Tesla rising over 5% and 4% respectively, reflecting strong market confidence in technology stocks that may lead the overall market higher.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
