Keep Your Stock Longs, As Dow Jones and S&P 500 Print New Highs

The stock market’s upward momentum shows no signs of slowing down. Both the Dow Jones and S&P 500 hit new record highs yesterday and continued to climb today, though the increases were modest. The Dow closed at 42,261.44 points, while the S&P 500 settled at 5,746.75 points. Despite global economic challenges, the overall market sentiment remains cautiously optimistic, driven by expectations that central banks will continue to ease monetary policies.

In particular, the People’s Bank of China (PBOC) lowered its reserve requirement ratio (RRR) by 50 basis points during the Asian session, further fueling positive risk appetite. Tech and consumer stocks were selectively favored by investors, especially as the technology sector, which started the day on a softer note, managed to recover by the close.

Dow Jones Chart Daily – Stabilizing Above Resistance

• Dow Jones Industrial Average: +0.20%
• S&P 500 Index: +0.24%
• NASDAQ: +0.55%
• Russell 2000: +0.20%

The NASDAQ’s strong performance highlights ongoing optimism, particularly in the tech sector, while the S&P and Dow closed at new record highs once again.

Companies like Alibaba and Tencent surged, signaling growing confidence in tech after recent struggles. The softer monetary stance globally is providing a buffer against the broader economic headwinds, with investors showing resilience by selectively placing bets on sectors that could outperform in the near term.

The stocks below saw strong gains, led by notable advances in tech and consumer sectors:

• Alibaba: +7.91%
• Tencent: +7.00%
• Beyond Meat: +6.59%
• Trump Media: +5.27%
• Taiwan Semiconductor: +4.13%
• Caterpillar: +3.98%
• Nvidia: +3.93%

S&P 500 Live Chart