S&P500 Index gains slight, Nasdaq receives support from chip stocks

Thursday, November 11, 2021 - 22:35
Point Trader Group
S&P500 Index gains slight, Nasdaq receives support from chip stocks

The Dow Jones index declined for the third consecutive session, recording losses of 0.44% to close at 35921 levels, while the S&P 500 index succeeded in achieving slight gains during today's trading session, which amounted to 0.1% to close at 4649 levels.

On the other hand, the Nasdaq index succeeded in rising by more than 0.5% at the close of trading on Thursday, July 11, to close at 15704 levels.

Chip makers helped push the Nasdaq index into positive results in the Veterans Day holiday session, a day after reports of higher-than-expected inflation undermined investor sentiment and halted a series of record high closes.

Disney retreated in the wake of a disappointing earnings report, which contributed to the Dow Jones index's decline.

The bond market was also closed for Veterans Day.

performance of the US market sectors

The Philadelphia Semiconductor Index recovered from its worst session in more than six weeks, led by gains in NVIDIA after brokerage Susquehanna raised the price target for the chipmaker.

Among the 11 major sectors of the Standard & Poor's 500 Index, services companies were the biggest decliners, while supplies companies led the gainers.

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