Nasdaq and S&P 500 Climb Higher on Tech Boom

The NASDAQ is one of the celebrated stock marketplaces and apparently, the most talked about bourses. The main reason behind this is that it grows one in every ten global security transactions.

In simple language, the NASDAQ is a place where the securities of buyers and sellers are gathered. It has 25 markets internationally, 5 central securities depositories, and also has one cleaning house.

If we break the words NASDAQ it will sound like ‘National Association of Securities Dealers Automated Quotations’. The firm was established on 8th February 1971.

This was built by the National Association of Securities Dealers (NASD), which was later retitled as Financial Industry Regulation Authority (FINRA).   

With time and effort, it became the world’s largest exchange after it partnered with OMX, a Scandinavian exchange in 2007. 

The NASDAQ mostly provides a market for equities, but along with that it also provides fixed income, derivative, commodities, and other choices for investors from all over the globe.

Even their expertise and technologies were used in more than 50 countries and have been adapted by more than 90 exchanges to streamline their securities trading activities.

The NASDAQ works as a dealers market or a market maker, as transactions are implemented via dealers rather than through any auctions.

As per this, the exchanges are set apart so that it can have various trading windows. Mainly there are 3 trading time slots: the premarket from 04.00hrs to 09.30hrs, main trading from 09.30hrs to 10.00hrs, and post-market trading from 16.00hrs to 20.00hrs

So, now as you get what Nasaq is let us know some more details about it. The Nasdaq integration did best on Friday as demand for technology stocks responded.

The standard and poor’s 500 closed at a new benchmark, while the Dow Jones index lost ground. November’s Friday labor report disclosed a nonfarm payrolls increased by 227,000 last month.

Which was over the Dow Jones forecast of 214,000 and majorly above October’s upwardly revised gain of 36,000. The unemployment rate rose up to 4.2 percent, in line.

“ You’re noticing a labor market that is not weak but is surely softening, and which is more than what is giving traders more confidence in the 25 basis-point rate cut here at the future meetings,” Luke O’Neill, portfolio manager at Catalyst Funds told CNBC Friday.

If you are thinking that way then it is not a gangbusters, but we’re honestly doing better from the economic perspective and yet there is enough of a softening on the labor side to offer plenty.

With that now you can see a detailed breakdown of closing numbers;

Main U.S. Guide

S&P 500 (^GSPC): The S&P 500 increased by 0.25 % or 15.16 points, it was closing at 6,090.27. The index was lifted by gains in technology and healthcare stocks, pushing toward it’s progress.

Dow Jones Industrial Average (^DJI): Here, no progress is seen as the Dow Jones fell by 123.19 points, concluding at 44,642.52. The loss in financial and energy stocks affect the index’s performance.

NASDAQ Composite (^IXIC): the heavy-tech NASDAQ made 0.81%, which was too close to 19,859.77. Strong earnings reports from main technology companies drove investor enthusiasm.

Mixed Trends on Friday of Global Foreign Exchange

The global foreign exchange market shows a list of movements on Friday, with most of the currency pairs showing mixed performances influenced by economic data and market sentiment. The U.S. Dollar Index progressed up to 0.27%, closing at 106.00  

The main currency moves have been mentioned below, take a closer look for a better understanding.

EUR/USD (Euro/ US Dollar): The euro bordered lower against the U.S. dollar, reducing by 0.22% to 1.0562 %

USD/JPY (US Dollar/Japanese Yen): The dollar was almost softened against the yen, slipping 0.08 percent to settle at the end at 149.97

USD/CAD (US Dollar/ Canadian Dollar): The U.S. dollar became more powerful against the Canadian one, advancing 0.94 % to 1.4154

Overview of the Global Stock Market: Mixed performance Over Major Indices

The closure of Friday’s stock market showed combined sentiment over global markets, with indicators in Europe, Asia, and the Americas showing various performance.

We have shared a detailed analysis of the major indices and their closing numbers for Friday. 

ASIA

• Hang Seng Index (^HSI): The Hang Seng climbed up to 305.41 points, or over 1.56% to reach 19,865.85.
• SSE Composite Index (000001.SS): China’s SSE Composite gathered 35.22 points which is 1.05% to conclude at 3,404.08.
• Nikkei 225 (^N225): Japan’s Nikkei 225 reduced 304.43 points to end at 39,091.17.

EUROPE

• DAX Performance Index (^GDAXI): Germany’s DAX posted a moderate rise of 25.81 points which was concluding at 20,384.61. 
• CAC 40 (^FCHI): France’s CAC 40 rushed for 96.34 points or 1.31% to conclude at 7,426.88 
• EURO STOXX 50 (^STOXX50E): The EURO STOXX 50 index ros

AFRICA

• Top 40 USD NET TRI INDEX (^JN0JO): The top 40 of South Africa was raised up to 0.18%, ending at 4,675.00.

CANADA

• S&P/TSX Composite Index(^GSPTSE): The composite index of Canada’s S&P/TSX reached up 11.76 points which was 25,691.80, supported by moderate gains in the materials sector.

UNITED KINGDOM

• FTSE 100 (^FTSE): The FTSE 100 of the UK was canceled by 40.77 points, ending the session at 8,308.61.

OCEANIA

• S&P/ASX 200 (^AXJO): Australia’s S&P/ASX 200 decreased by 0.64%, which was ending at 8,420.90. 
• All Ordinaries (^AORD): The all Ordinaries were also decreased, discarding 55.20 points, to end up at 8,689.30.
• S&P/NZX 50 (^NZ50): New Zealand’s S&P/NZX 50 declined 87.36 points to finish at 12,089.59.

MIDDLE EAST

• In the Middle East, the stock market remained closed on Friday and we resumed on Sunday.