NASDAQ index pushes for a record close (again)

October 29, 2024
-FCHFX

October 29, 2024 at 04:08PM
The NASDAQ index is trading up 96 points or 0.52% at 18663.79. That takes the price above the July 10 high closing level of 18467.58. On Friday, the price high traded above that level intraday but failed. In trading yesterday, the high price also moved above that high closing intraday and failed (closing near the lows for the day)

Is the third time the charm today? WIll we get that record closed today

While the S&P and Dow industrial average have made numerous new highs since the July peak, the NASDAQ index has lagged behind both. Having said that, the NASDAQ index did lead the way in the first half of the year. SO the catch up by the other indices, helped to spread the love to other sectors since those highs.

Year-to-date the Dow industrial average is up 12.31%, while the S&P is up 22.31%. The NASDAQ index is still leading the way with a gain of 24.36% on the year.

The new high in the NASDAQ comes ahead of what is considered the Super Bowl week for earnings especially the Tech sector. After the close today, Alphabet will announce their earnings. Tomorrow Microsoft and Meta will announce tomorrow and Amazon and Apple will announce on Thursday.

Tesla has already announced. Nvidia does not announce their earnings until November 20.

Below is a list of the key earnings release for the remainder of the week.

After Close today:

AMD

Alphabet

Snap Inc.

Chipotle

Visa

First Solar

WednesdayBefore Open:

Lilly

Caterpillar

Humana

After Close:

Microsoft

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