In a notable upswing, the S&P 500 experienced a 1% increase, while the NASDAQ outperformed with a nearly 2% gain, reaching a new all-time high on Thursday, surpassing its previous record set in November 2021. As we progress into 2024, the market indices have displayed positive performance in seven out of the nine weeks.
February proved to be particularly robust for the S&P 500, as it notched up its record level on eight occasions, resulting in an impressive overall climb of 5.2%. This marks the fourth consecutive month of positive growth, with a cumulative gain of 21.5% during this period. Notably, all 11 sectors contributed to the positive momentum last month, with communication services leading the way.
The market’s sustained positive trajectory in 2024 reflects a robust and optimistic start to the year, underlining the resilience and strength of the financial markets.
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent dropped of 189 points, reaching a closing value of 16,085 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 35 points to settle at 5,123 points. Meanwhile, DJIA Index experienced a notable hike, losing 365 points during the week and concluding at 38,722 points after a week of gain.
In contrast, Russell 3000 Index saw a hike in week performance, with a slight lose of 6 points to reach 2,938 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable hike of 6 points, ending the week at 2,082 points.
