THE S&P 500 INDEX SOARED TO BREAK THE LATEST RECORD FOLLOWING AN INCREASE IN THE VALUE OF TECHNOLOGY COMPANY SHARES

08.04.2021
Market News

The U.S. index market, the S&P 500 posted the highest gain in history breaking previous records on Wednesday this week following continued positive gains by tech companies based there.

Last night also the US Federal Reserve (Fed) released the minutes of its March 2021 meeting confirming that they will continue to stick to the decision to stick to the current simple monetary policy and continue to stick to low interest rate fixes for a period before the inflation target 2 % achieved.

The S&P 500 index rose 0.2% and closed higher at around 4,080.00 yesterday. Meanwhile, the Dow Jones Industrial Average (DJIA) index recorded an increase of around 0.05%.

S&P 500 INDEX.
DOW JONES INDUSTRIAL AVERAGE INDEX.

Several stocks of technology -based companies such as Microsoft (NASDAQ: MSFT), Google (NASDAQ: GOOGL), Facebook (NASDAQ: FB), Apple (NASDAQ: AAPL) and Amazon.com (NASDAQ: AMZN) traded positive yesterday.

In the minutes of the Fed meeting released yesterday, the Fed stressed that the economy is going through a recovery phase and economic growth is seen as positive so far compared to last year, but they remain to continue with current policies to continue to support economic growth.

U.S. earnings were also reported to be up after the Fed released minutes of its meeting last night. Turnover for 10-year Treasury notes increased by 1.672% while for 30-year Treasury notes increased by 2.357%.