The stock market continued its impressive streak this week, with the Nasdaq posting its fourth consecutive week of gains and the Dow closing higher on Friday.
The positive momentum was spurred by strong earnings reports and a cooling inflation print, which boosted investor confidence. The S&P 500 and the Nasdaq both closed at record highs on Friday, pushing the Dow Jones Industrial Average to its highest level since August.
Intel was the biggest loser of the day, as its stock plummeted nearly 10% after the company missed earnings expectations.
Overall, the stock market’s performance has been impressive throughout January, with the Dow and S&P 500 both up more than 5% for the month.
Looking ahead, investors should be aware of a few key factors before the stock market opens on Friday. These include the latest housing data, jobless claims, and consumer sentiment.
Regardless of what the future holds, the stock market’s recent performance has been a welcome sign of stability after a tumultuous 2020. As Wall Street nears its highest level since summer, investors can take comfort in the fact that stocks are continuing to trend higher.