Major indices close higher as Fed tapers but will take it’s time
NASDAQ, Russell 2000 lead the way
The major indices are all closing higher and at record levels as the Fed tapers but will take it’s time in taking away the punch bowl.
The more rate sensitive NASDAQ and small-cap Russell 2000 index were the out performers.
- The NASDAQ index rose over 1%
- the Russell 2000 index rose 1.8%. Year-to-date the Russell index is up 21.73%
Other highlights:
- NASDAQ recorded its fifth straight record close
- Dow industrial average closed at a record level for the fourth consecutive day
- The NASDAQ closed at a record level for the 41st time
- S&P index closed at a record level in 2021 for the 62nd time
- Dow industrial average closed at the record level for the 42nd time
- The NASDAQ index is up for the eighth consecutive day
- Consumer discretionary (+1.8%), materials (+1.1%), consumer staples (+0.9%) were the leading sectors
- Energy -0.8%, utilities -0.3%, and industrials -0.2% where the lagging sectors
Looking at the major indices
- Dow industrial average rose 104.39 points or 0.29% at 36157.02
- S&P index rose 29.92 points or 0.65% of 4660.56
- NASDAQ index rose 161.98 points or 1.04% at 15811.58
- Russell 2000 index rose 42.42 points or 1.8% at 2404.28
Oversized winners today included:
- Bed Bath & Beyond, +15.2%
- Lyft, +8.1%
- Uber, +6.6%
- Rack Space, +6.32%
- Robin Hood, +5.86%
- GoodRx, +5.51%
- Gamestop, +5.49%
- Beyond Meat, +5.31%
- AMC, +5.26%