The Nasdaq Gains 1.9%, the S&P 500 Gains Nearly 1%

Published on:

Last Updated on November 13, 2022 by Bitfinsider

The S&P 500 finished its best week since June as Thursday’s report on decelerating inflation bolstered expectations that the Federal Reserve may soon cease its tightening drive.

The broad market index increased by 0.9% to end the day at 3,992.93. This pushed its weekly gain to 5.9%, its most since the week ending June 24 of this year. The Nasdaq Composite rose almost 1.9% to 11,323.33 as investors purchased technology stocks in anticipation that interest rates will decline. The Dow Jones Industrial Average rose 0.1%, closing at 33,747.86.

On Friday, tech stocks shrugged off a fall in cryptocurrency prices. After FTX filed for bankruptcy protection and CEO Sam Bankman-Fried resigned on Friday, virtual currencies plunged dramatically this week and faced renewed pressure on Friday. Both Bitcoin and ether fell in value.

Still, tech equities and linked crypto stocks rebounded after beginning lower Friday. Through Friday, the technology sector of the S&P 500 gained 10%, its greatest weekly performance since April 2020. Amazon gained more than 4 percent on Friday, while Alphabet gained 2.6%.

The Dow rose more than 1,200 points on Thursday as a result of a smaller-than-anticipated increase in consumer prices for the month of October, which gave investors hope that inflation may be moderating. The S&P climbed 5.5%, and the Nasdaq Composite jumped roughly 7.4%. It was the best day for all three indexes since 2020.

On Thursday, Treasury yields fell in response to a weaker-than-anticipated inflation reading. On Friday, the bond market was closed in observance of Veterans Day.

Emmanuel Cau, head of European stock strategy at Barclays, wrote in a Friday note: “From an equity market perspective, as long as the danger of significantly higher interest rates is removed, this should remove a big headwind.”

All of the indices posted a winning week. The Dow rose 4.1% week-over-week, while the Nasdaq Composite rose 8.2%. The bear market resumed its recovery bounce, which began in mid-October, throughout this week.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related