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S&P 500 with its best performance since 1987
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Loading...The stocks ended January with the best performance for the past 30 years, due to strong earnings and Fed signals that it will pause the interest rate hikes, and that caused investors to rush back into the market after December sell-offs.
The gains on Thursday were driven by better-than-expected earnings from a number of companies, including Facebook and General Electric. The S&P 500 rose 0.9 percent to 2704.10, and the Nasdaq also performed very well and rose 1.37 percent to 7281.74. The Dow Jones Industrial Average closed below the flatline at 24,999.67.
During the past month, S&P 500 jumped 7.87%, this was the best January performance since 1987, as well as the biggest monthly rise since October 2015. The same was the performance of Dow, which rose 7.17% in January.
Facebook shares rose 10.8% after the quarterly results of the company, which significantly exceeded the expectations. General Electric also reported revenue higher than the forecasts and stocks jumped 11.65%.
Trader Georgi Bozhidarov Read more:
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