Nasdaq Finished Higher to Clinch Longest Winning Streaks Since November 2021

In One Chart joined discussion · Nov 8, 2023 04:11

The $S&P 500 Index(.SPX.US)$and $Nasdaq Composite Index(.IXIC.US)$ rose on Tuesday to notch their longest winning streaks in nearly two years and build on November's rally.

Technology stocks moved higher as yields pulled back, with the yield on the 10-year Treasury note last trading about 9 basis points lower at 4.573%. Some notable gainers included $Advanced Micro Devices(AMD.US)$ and $Intel(INTC.US)$, which rose nearly 20% each over the past eight trading days.

Nasdaq Finished Higher to Clinch Longest Winning Streaks Since November 2021

As yields move lower, we tend to get a bigger rebound in the growth parts of the market," said Mona Mahajan, senior investment strategist at Edward Jones, adding that a cooldown in oil prices may also be contributing to sentiment around inflation, and offering some relief at the pump.

$NASDAQ 100 Index(.NDX.US)$ $Dow Jones Industrial Average(.DJI.US)$ $Amazon(AMZN.US)$ $Qualcomm(QCOM.US)$ $NVIDIA(NVDA.US)$ $Adobe(ADBE.US)$ $Starbucks(SBUX.US)$ $Meta Platforms(META.US)$ $Microsoft(MSFT.US)$ $Booking Holdings(BKNG.US)$

Source: CNBC

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