U.S. Stock Market Opens Higher: S&P 500, Nasdaq Composite, Dow Jones Gain
CryptoNewsTerminal Staff07 Aug, 2024
U.S. Stock Market Opens Higher: S&P 500, Nasdaq Composite, Dow Jones Gain
The U.S. stock market opened significantly higher on Monday, led by gains in the technology and healthcare sectors. The S&P 500 index, a broad measure of the U.S. stock market, rose by 1.16% to 4,218.54 points. The Nasdaq Composite, which is heavily weighted towards technology stocks, surged by 1.63% to 14,099.88 points. Meanwhile, the Dow Jones Industrial Average, which tracks 30 large U.S. companies, climbed by 0.68% to 33,837.81 points. The positive start to the week came after a strong performance last Friday, when the S&P 500 and Nasdaq Composite both closed at record highs. Investors were encouraged by upbeat earnings reports from several major companies, including Amazon and Alphabet. Additionally, the Federal Reserve's decision to keep interest rates unchanged provided support to the market. The tech sector was one of the main drivers of the market's gains on Monday, with Apple, Microsoft, and Amazon all rising more than 1%. Healthcare stocks also performed well, with UnitedHealth Group and Merck both climbing over 2%.
