S&P 500 and Nasdaq close at records again as Salesforce sparks massive tech rally; European markets close higher ahead of key Fed speech; Elekta shares jump 11%; BELEX15 up 0.12%
The S&P 500 and Nasdaq Composite rose to fresh record highs on Wednesday, building on their massive rallies off the March lows, as tech shares led the way higher. The broader market index advanced 1% to 3,478.73 while the Nasdaq popped 1.7% to end the day at 11,665.06. The Dow Jones Industrial Average gained 83.48 points, or 0.3% to end at 28,331.92.
Shares of Salesforce surged 26% — their biggest one-day gain ever — after the software company posted blowout earnings after the bell on Tuesday. Salesforce will be added to the Dow at the end of August, S&P Dow Jones Indices said Monday. The changes are driven by Apple’s coming stock split, which will reduce the technology weighting in the price-weighted average.
Facebook and Netflix jumped 8.2% and 11.6%, respectively. Amazon advanced nearly 3% while Alphabet and Microsoft gained 2.4% and 2.2%, respectively. Apple rose 1.4%.
Moderna said its coronavirus vaccine showed promising results in a small trial of patients aged 56 and older. The company’s stock jumped 6.4% on the news. U.S. durable goods orders jumped by 11.2% in July, easily topping a 4.3% estimate from Refinitiv.
European stocks closed higher on Wednesday, amid optimism about U.S.-China trade and ahead of a key speech by the U.S. Federal Reserve chairman.
The pan-European Stoxx 600 index provisionally closed up by 0.8%, reversing earlier losses, with almost all sectors and major bourses in positive territory.
Sweden’s Elekta surged to the top of the European benchmark on Wednesday. Shares of the Stockholm-listed firm rose 11% after the radiation equipment maker reported a big jump in profit through the company’s first quarter.
BELEX15 was up only 0.12%, which was a symbolic change. This was mainly due to 0.69% gain at NIS. Metalac was the most active name with pretty much high volume for the stock – RSD 146m. This was over 90% of total trade volume on the market. The company announced that it will report its 6M consolidated numbers on 31st August. This should give better picture of how the company performed during the crisis in March and April.
Source: CNBC, Ilirika