4 sources·Business

Tech Stocks Propel Nasdaq to New Heights Amid Mixed Wall Street Performance

The Nasdaq hits a record high driven by tech stocks, despite mixed performance across other indices as major firms report quarterly results.

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Updated: Oct 29th, 2024, 8:23 PM ET

Summary

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On October 28, 2024, the Nasdaq composite achieved a new record high, rising 0.8% due to strong performance by major tech firms like Microsoft and Meta. While the S&P 500 gained slightly, the Dow Jones Industrial Average fell 0.4%, with declines seen in homebuilder stocks and Ford Motor following disappointing profit reports. Despite overall trading being mixed, anticipation surrounds upcoming earnings reports from significant tech companies, which could impact market trends further. Treasury yields remain high, adding to investor concerns about interest rate stability ahead of the upcoming U.S. presidential election.

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