Sheriff Adel (Washington)
The Dow Jones industrial average ended the week trading at a record high, ending a winning week for US stocks, while the cryptocurrency Bitcoin touched the benchmark level of $100,000, for the first time in history
In the last trading days of the week, the Dow Jones industrial average of major companies rose by 426.16 points, or 0.97%, to reach 44,296.51 points, which is the highest closing level for the most famous index in the world ever, in the third. advanced session in series.
The S&P 500 index also added 0.35% to end the day at 5,969.34 points, in a week that saw an increase in the index that mainly expresses the different sectors of the American economy. all day
The Nasdaq Composite Index, which focuses on technology stocks, rose 0.16%, reaching 19,003.65 points.
The gains of the index were limited due to a decline in Nvidia shares by 3.2% and shares of Alphabet, the parent company of the famous search engine Google, by 1.7%.
The Dow Jones ended last week with an estimated gain of about 2%, while the S&P 500 and Nasdaq added about 1.7% each, which represented a shift away from the declines that had been record with US stocks last week, when the Wall Street wave rose. after that the elections stopped.
Friday’s moves saw a continuation of investors’ move towards reducing exposure to technology stocks in favor of the most economically sensitive stocks, with the industrials and consumer discretionary sectors leading gains. the S&P 500 index, while the communications services sector was the worst performer.
Sam Stovall, chief investment strategist at CFR Research, said: “Investors are abandoning large stocks in the communications services and technology sectors, and moving towards other cyclical sectors such as consumer discretionary, industrial , finance, as well as mid-cap. and small stocks. The US stock market sees typical trends at the end of election years, as prices of all sizes, styles and sectors within the broader S&P 1500 index rise. “
Tesla shares are going up
Legendary billionaire Elon Musk‘s wealth rose to an all-time high, reaching $347.8 billion on Friday, driven by the continued rise in shares of electric car maker Tesla, and a new funding round that ‘ to value his initiation in the field of artificiality. intelligence (xAI) at nearly $50 billion.
Many of Musk’s companies have seen their value rise dramatically since Donald Trump won the election, pushing Musk, known as his “first friend,” into the political spotlight. Tesla shares rose 3.8% on Friday, reflecting continued hope that the Trump team’s plans for self-driving cars and support for electric vehicles will give Musk’s company an advantage over its rivals. The company’s shares have risen 45% since November 4, the day before the election, adding about $350 billion to the market value.
2024-11-23 21:44:00
#Dow #Jones #leads #indexes #finish
**What are the potential risks associated with the increasing reliance on Elon Musk’s pronouncements to influence market movements, and how can investors mitigate these risks?**
## World Today News: Market Surge and Musk’s Ascent
**Introduction:**
Welcome to World Today News. Today we are joined by financial expert Sarah Jenkins and tech analyst David Chen to dissect the week’s significant market movements. The Dow Jones Industrial Average reached a historic high, Bitcoin surpassed the $100,000 mark for the first time, and Elon Musk’s net worth skyrocketed. Let’s dive into these developments and their implications.
**Section 1: The Bull Market Surge:**
* **Interviewer:** Sarah, the Dow Jones reached a record high, capping off a winning week for US stocks. What factors do you attribute to this surge? Is it a sustainable trend, or should investors be cautious?
* **Sarah Jenkins:** There are several contributing factors. Strong corporate earnings reports, optimism surrounding a potential COVID-19 vaccine, and the anticipation of a smooth transition of power in the US government have all boosted investor confidence. While the long-term outlook remains positive, some caution is warranted. We need to see if these positive factors continue to materialize.
* **Interviewer:** David, we also saw gains in the S&P 500 and Nasdaq, but the Nasdaq’s growth was less pronounced. What’s driving this divergence?
* **David Chen:** The Nasdaq’s growth was tempered by declines in tech giants like Nvidia and Alphabet. This suggests that investors might be shifting their focus from tech towards more traditional sectors like industrials and consumer discretionary, as Sarah mentioned.
**Section 2: Bitcoin’s Breakthrough:**
* **Interviewer:** Bitcoin hit the long-awaited $100,000 mark. David, what are your thoughts on this milestone? Does it signify broader acceptance of cryptocurrency, or is it a speculative bubble?
* **David Chen:** Reaching $100,000 is a huge psychological barrier, and it will likely attract more institutional investors. However, the cryptocurrency market is notoriously volatile, and there’s always the risk of a correction.
* **Interviewer:** Sarah, how might Bitcoin’s price surge impact the traditional financial markets?
* **Sarah Jenkins:** It’s crucial to remember that Bitcoin is still a relatively small market compared to stocks and bonds. However, its increasing adoption and mainstream acceptance could potentially influence investment trends and create new financial instruments.
**Section 3: The Musk Factor:**
* **Interviewer:** David, Elon Musk’s wealth soared this week, primarily fueled by Tesla’s stock performance and his new AI venture xAI. What does this say about Musk’s influence on the market?
* **David Chen:** Musk’s success is incredible, and he’s undeniably a visionary. However, his influence can also be a double-edged sword. His pronouncements on social media can move markets, sometimes without concrete basis, which raises concerns about speculative bubbles and market manipulation.
* **Interviewer:** Sarah, how are investors reacting to Musk’s increasing dominance in various sectors, from automotive to space exploration to AI?
* **Sarah Jenkins:** Some investors are enthralled by Musk’s entrepreneurial spirit and bet on his future innovations. Others are more cautious, questioning the sustainability of his ventures and the potential risks associated with such concentrated power in one individual.
**Conclusion:**
* **Interviewer:** Thank you, Sarah and David, for these insightful perspectives. It’s clear that the markets are experiencing a period of significant change and uncertainty. As we move forward, it will be fascinating to observe how these trends continue to evolve and shape the global financial landscape.
Remember to stay informed, conduct your own research, and consult with a financial advisor before making investment decisions.
