Stock Market rallies ended up higher led by tech giants as Powell affirms no inflation

(MENAFN – Market Press Release) Everyone has been anticipating inflation as part of the economic recovery and because of this, tech stocks had been on a thorny path for the past few days.
Thursday session opened higher after Powell’s speech Wednesday evening, resulting to a massive tech rally led by Alphabet (GOOGL), Facebook (FB), and Microsoft (MSFT) which all hit new ATH. NASDAQ outperformed and closed to its highest since February, while S&P 500 reached a new all-time peak. The Dow also closed higher with its quiet movements in the market.
Futures for the 3 all edged higher with all the positive news coming in. Inflation will be held back as much as possible, economic recovery is underway, and COVID-19 vaccine rollout going smoothly.
Here’s a quick view of all the major changes in the market as of Thursday, April 8:
• NASDAQ Composite Index jumped 1.03% or 140.47 points ending at 13,829, which is its highest close in almost 3 months
• S&P 500 Index increased by 0.42% or 17.22 points reaching an all-time record of 4,097 at market close
• The Dow Jones Industrial Average up by 0.17% or 57.31 points closing 33,504
• Gold plummeted 0.42% or 7.25 points, closing at $1,736.92 an ounce
• Silver slightly dropped 0.03% or 0.01 Points at $25.01 an ounce
• The U.S. 10-year Treasury Note bumped up by 0.016 basis points at 1.645%
• The U.S. 30-year Treasury Bond went up by 0.019 basis points closing 2.328%
• WTI Crude slipped 0.18% and at $59.49 a barrel
• Stoxx Europe 600 outperforms gaining 0.58% or 2.54 points and now at 436.86
• MSCI Asia Pacific hit it big with 1.79% gains at 445.29
Bitcoin is currently upward indicating a positive trend with the distribution of the stimulus cheques for the ongoing pandemic. Last March, Morgan Stanley announced that they would flagship the use of bitcoins in banks, and a similar move was made by Goldman Sachs later on.
These are the 5 main cryptocurrencies and their current value in the market:
• Bitcoin (BTC) – $57,927.55
• Etherium (ETH) – $2,075.91
• Ripple (XPR) – $1.02
• Bitcoin Cash (BCH) – $636.66
• LiteCoin (LTC) – $224.16
For more latest news in US Stock Market and Crypto Currency you may also visit us at Invest Consulting Group Limited through our website or contact us via email.
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