The Wall Street indices S&P 500 and Nasdaq have risen at the beginning of the new trading week, fueled by a rally in technology stocks. According to Handelsblatt, major tech companies have regained their leadership role, supported by solid and growing revenues and profits.
Robert Edwards, Chief Investment Officer at Edwards Asset Management, stated, "The major tech companies have regained their leadership role." Shares of chip manufacturers Nvidia and Micron Technology rose by nearly two and more than six percent, respectively. Qualcomm reached a record high at one point and closed up over eight percent.
Additionally, Intel's shares temporarily increased by six percent after gaining 14 percent on Friday, based on a report about a chip agreement with Apple. These developments reflect investor confidence in the technology sector and its growth potential.
On Friday, the US job numbers for April influenced the US stock markets, leading to an increase in the indices. The S&P 500 closed at a new record, further enhancing the positive sentiment in the markets.
