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Sunday, June 16, 2024
HomeNewsMarketsNASDAQ Hits New High, U.S. Equity Markets Rally

NASDAQ Hits New High, U.S. Equity Markets Rally

Graphic concept of the NASDAQ Composite (^IXIC) in the green for gains. (Photo: AdobeStock)
Graphic concept of the NASDAQ Composite (^IXIC) in the green for gains. (Photo: AdobeStock)
Graphic concept of the NASDAQ Composite (^IXIC) in the green for gains. (Photo: AdobeStock)

New York, N.Y. (PPD) — U.S. equity markets surged on Monday, with the NASDAQ Composite (^IXIC) hitting an intraday before closing at a record high. The tech-heavy index closed +226.02, or 2.21% at 10,433.65.

The Dow Jones Industrial Average (^DJI) closed out the day +459.67 at 26,287.03, a gain of 1.78%. The S&P 500 (^SPX) closed +49.71, or 1.59% at 3,179.72.

The Russell 2000 (^RUT) closed +11.02, or 0.77% higher at 1,442.88.

The Institute for Supply Management (ISM) reported earlier that the Non-Manufacturing Index (NMI) rose to 57.1% in June, far stronger than economists expected. Last week, the ISM Manufacturing Index (PMI) also came in stronger than expected at 52.6% in June, up from 43.1% in May.

The readings both indicate the economy is growing again after disruption from the mitigation efforts to slow the spread of coronavirus (COVID-19).

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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