The New York stock market continued its upward momentum on Thursday.
Despite a sharp decline when markets reopened on Monday following the Easter holiday, triggered by U.S. President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell, stocks have been on a three-day winning streak since Tuesday.
Tech stocks led the rally, with Tesla adding another 3.5% to its previous day’s 5.4% surge and Nvidia jumping 3.6%.
While market experts caution that the current upswing may be unsustainable, investors are seizing opportunities to buy stocks at lower prices, encouraged by improving corporate earnings and hopes for easing trade tensions.
Three-day Rally Continues
The New York stock market saw significant gains across the board, with technology and small-cap stocks showing particularly strong performances.
The tech-heavy Nasdaq broke through the 17,000 mark, while the Dow Jones Industrial Average, comprising 30 blue-chip stocks, recovered the 40,000 level.
The Nasdaq composite soared 457.99 points (2.74%) to close at 17,166.04.
The S&P 500, which shows broader market performance, surged 108.91 points (2.03%) to finish at 5,484.77.
The Dow Jones Industrial Average gained 486.83 points (1.23%), ending the session at 40,093.40.
The Russell 2000, an index of small-cap stocks, jumped 38.45 points (2.00%) to 1,957.59.
The CBOE Volatility Index (VIX), often referred to as Wall Street’s Fear Gauge, dropped 1.98 points (6.96%) to 26.47.
M7 Stocks Continue to Climb
The Magnificent Seven tech giants extended their upward trajectory.
Tesla shares rose 8.77 USD (3.50%) to 259.51 USD, while Nvidia climbed 3.72 USD (3.62%) to 106.43 USD.
Apple gained 3.77 USD (1.84%) to close at 208.37 USD, and Microsoft surged 12.91 USD (3.45%) to 387.30 USD.
Amazon jumped 5.94 USD (3.29%) to 186.54 USD, while Meta Platforms advanced 12.88 USD (2.48%) to finish at 533.15 USD.
Alphabet closed at 161.47 USD, up 3.75 USD (2.38%), ahead of its earnings report after the market close.
Alphabet’s stock continued to rise in after-hours trading, with better-than-expected earnings results further boosting stock price.
In extended trading, Alphabet shares surged an additional 7.05 USD (4.43%) to reach 166.33 USD.
