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Wall Street: S&P 500 and Nasdaq break new records thanks to mega-cap stocks

Wall Street: S&P 500 and Nasdaq break new records thanks to mega-cap stocks
Wall Street: S&P 500 and Nasdaq break new records thanks to mega-cap stocks

The market is awaiting new key inflation data and second quarter corporate earnings this week.

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The Major Wall Street Indices started the day on Wednesday, July 10, with a majority of increases. Nasdaq and S&P 500 broke new records thanks to the strength of Nvidia and other major stocks, which supported the market’s winning streak. This week New key inflation data expected and second quarter business results.

In this context, the Dow Jones Industrial Average is quoted almost without variation in 39,283.80 points, but the S&P 500 win 14.30 units, or 0.3%, until the 5,591.31 points and the Nasdaq Composite It appreciates 75.08 points, or 0.4%, and reaches 18,504.37 points.

Mega-cap stocks boost Wall Street

Nvidia advances 1.3%, to a high of almost three weeks, while Micron Technology, Advanced Micro Devices and ON Semiconductor improve up to 4%, boosting the index SE Semiconductor to a record high.

The Taiwan Semiconductor Manufacturing Co. shares US-listed shares rose 2.5% following strong quarterly results from the world’s largest contract chipmaker.

Of the so-called “Magnificent Seven”, Alphabet and Microsoft rise by around 0.5%. Manzana also wins 0.9%, to a new all-time high, lowering the yield on US Treasury bonds.

Wall Street awaits key inflation data

Federal Reserve (Fed) Chairman, Jerome Powellcelebrated on Tuesday the Recent inflation data and said that if these types of clues continue to arrive, it will become clearer when lower interest rates.

Attention will now turn to this week’s inflation data, with the release of the Consumer price index Thursday and Producer Price Index on Friday.

Source: Ambito

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