Standard & Poor’s 500 advanced 1.18%, to 4,019.85 points, which represents a closing record. During the session it reached its maximum ever, at 4,020.63 points.
In turn, the technological Nasdaq Composite appreciated 1.76% to 13,480.11 points.
This was the last session of the week on Wall Street, as the markets will be closed tomorrow for Good Friday celebration.
The technology companies, led by chip makers, have been buoyed by the positive earnings outlook presented by Micron Technology – which estimates revenue in the third quarter above Wall Street expectations due to the increased demand for memory chips thanks to 5G smartphones and the artificial intelligence software.
In Europe, technologies were the subgroup that most valued this Thursday, having closed at a maximum of 20 years.
The fact that public debt interest rates are easing in the US helped the rise. The yields of 10-year Treasury bonds in the USA have been rising in recent weeks and reached a maximum of 14 months ago at 1.77%, which has put pressure on the quoted companies in the technological sector – as this context reduces the appetite for high-growth stocks in favor of companies that are seen as more likely to perform well with the economic recovery.
Another factor that today strongly encouraged investors was the announcement that the industrial activity index in March reached a peak of 37 years in the USA. This indicator also proved to be pleasant in other regions of the world, which contributed to the optimism.
The vast infrastructure investment plan in the United States announced by President Joe Biden also helped optimism.
Stifling greater gains on the other side of the Atlantic was the fact that the number of new unemployment benefit applications rose unexpectedly in the week ended on 27 March. There were over 719,000 requests for this state aid, up from 658,000 a week earlier. Economists surveyed by Reuters had expected 680,000 new orders last week.
Get the latest news delivered to your inbox
Follow us on social media networks