Doha: US stock markets closed higher on Wednesday, with the tech-heavy Nasdaq leading gains. Preliminary data showed the S and P 500 rising by 39.58 points (0.58%) to 6,753.48, while the Nasdaq Composite jumped 255.02 points (1.11%) to 23,041.74. The Dow Jones Industrial Average edged up 5.68 points (0.01%) to 46,608.66
According to Qatar News Agency, the significant gains in the Nasdaq were primarily driven by strong performances in the technology sector. Investors seemed optimistic about the sector’s potential, contributing to the overall positive sentiment in the market. The upward trend reflects continued investor confidence amidst a volatile economic environment.
Analysts suggest that tech stocks have been pivotal in maintaining market buoyancy. The S and P 500’s rise also indicates broader market strength, although the Dow Jones Industrial Average saw only a marginal increase. The closing numbers underscore market resilience and the influential role of the tech industry in driving market dynamics.