Posted 3/8/2024, 12:50:00 AM
Stocks Surge to Record Highs Driven by Tech as Jobs Report Looms
- The stock market rally had a strong, broad advance Thursday, with the S&P 500 and Nasdaq hitting fresh all-time highs.
- Nvidia stock popped 4.5% to 926.69 on Thursday, becoming the most extended from its 50-day line since June 2003.
- The February jobs report on Friday morning will likely move Dow futures, Treasury yields, and the overall market.
- Many chip, software, housing, medical products, trucking, bank, and energy stocks are showing strength.
- The Nasdaq and leaders like Nvidia are extended, while sentiment is euphoric, raising the risk of a market pullback.