Friday was a good day for the stock market, as the S&P 500 and Dow both closed higher. The surge in stocks came after Apple Inc (NASDAQ: AAPL) reported better-than-expected quarterly results. This news caused market volatility to drop sharply, with the Dow notching its biggest single-day percentage gain since Jan 6th. NVIDIA (NASDAQ: NVDA) also saw an increase in share prices on Friday following positive nonfarm payroll data released earlier that morning.
The Nasdaq composite rose 2% while the S&P 500 gained 1%. Apple’s strong report helped push technology stocks up 3%, leading all 11 sectors of the index higher. Shares of NVIDIA jumped more than 5% after investors reacted positively to news that U.S employers added more jobs than expected last month despite rising coronavirus cases across many states and cities nationwide.
Overall, it appears that investors remain optimistic about a potential economic recovery even though there are still some uncertainties ahead due to COVID-19 restrictions and lockdowns being implemented around different parts of the world again this summer season. All eyes will be on upcoming earnings reports from other major tech companies, such as Amazon, Microsoft, Google, etc., over the coming weeks which could further determine the stock market direction going forward.
Read more at Benzinga
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