The S&P 500 breaks through to a new all-time high, reaching 5,000 on Wall Street.
Led by large technology companies, the index topped the 5,010-point mark at the opening of the session.
On Thursday he attempted an attack that barely lasted, but on Friday he succeeded. The US S&P 500 broke the 5,000-point barrier this afternoon, setting a new all-time high, surpassing 5,010 points in the early hours of Wall Street’s open. As European stock markets closed out the week, big tech…Microsoft, Apple, Amazon, Nvidia, Meta, Alphabet and Tesla– took the US Select Index to levels it had never been before, after a week marked by gains.
The Efe agency reports the importance of this milestone with reference to the portal. Market Review, is more sociological than objectively economic, since for analysts the most relevant and most popular index is the Dow Jones Industrial Average, “the true measure of the New York stock market for the general public.” The portal highlights that it took the S&P500 719 trading days to gain 1,000 points compared to the 4,000 quota achieved in 2021.
In Europe, the Ibex 35 index ended the week with a negative balance. The Spanish index showed a decline of 1.65% after ending a 0.09% decline this Friday, reaching 9896 points after a series of business results in recent days. The worst weekly results are from Acciona Energía (-8.87%), Acciona (-6.47%) and Colonial (-5.36%), while the best weekly results are from Acerinox (+8, 56%), Rovi (+ 7 .55%) and Unicaja (+4.46%).
XTB analyst Joaquin Robles explained this Europe Press that its negative behavior is due to the evolution of companies most vulnerable to high interest rates. Investors are beginning to believe rate cuts will come later than expected, leading to a revision in estimates and pushing the Ibex 35 closer to yearly lows and erasing gains made in December, Robles said.
Thus, on a business level, companies such as Grifols, Solaria, Aksiona Renovabels and Colonial stylewhich have already lost more than 20% this year, while other energy companies are also dragging down the indicator.
Robles himself recalled that this situation cannot be extrapolated in view of what is happening on Wall Street, which continues to reach new all-time highs, despite the fact that economic strength may delay rate cuts: “we now see (this economic strength) as a positive factor . factor that will help companies improve their results,” he said.
In the rest of Europe’s largest cities, only London, down 0.52%, joined Madrid in decline, while Frankfurt remained flat (+0.05%), while Paris and Milan managed to move ahead with increases of 0.73% and 1.43%.