INdustrycTceh INsight Logo

S&P 500 increases to start the week, Nasdaq gains 1.9%

S&P 500 increases to start the week, Nasdaq gains 1.9%

April 6, 2022: -On Monday, Stocks gained as traders shook off recession fears and bought technology shares that were beaten up in the first quarter.

The Dow Jones Industrial Average traded 103.61 points, or 0.3%, higher to close at 34,921.88, and the S&P 500 gained 0.81% to 4,582.64, with both benchmarks gaining for the second session in a row.

But the Nasdaq Composite was the big outperformer, which advanced 1.9% to 14,532.55. The tech-heavy index was once in bear market territory earlier in the year but has clawed its way back to be down just about 10% from its previous record.

Tech shares, which were among the hardest-hit sectors in the first quarter, surged on Monday after one social media stock got a major endorsement from a notable entrepreneur and investor, Elon Musk.

Twitter shares increased over 27% following news that Musk purchased a 9.2% passive stake in the company. It was the biggest pop in Twitter’s history since its IPO as investors speculated Musk’s move could lead to a buyout or other significant changes, even if the stake is passive.

Musk’s main stock also had a big day. Tesla shares gained 5.6% on the back of its latest quarterly electric vehicle delivery figures on Saturday, which came in above the year-earlier period.

Technology companies, including Apple, Amazon, Alphabet, and Nvidia, were also up over 2%. U.S.-listed Chinese tech stocks, including Alibaba and, also rallied.

“Again, because tech took it on the chin in the first quarter, it ends up being a relief rally for tech and the other growth-oriented sectors,” said Sam Stovall, CFRA chief investment strategist. “The Nasdaq is leading the way really because there’s not a lot of new news to put additional pressure on the Nasdaq.”

Investors shook off a few lingering concerns as they bought tech shares. A vital Section of the yield curve remained inverted after the 2-year, and 10-year Treasury yields shifted for the first time since 2019 Thursday evening. The 5-year note yield is also trading above its 30-year counterpart.

“It likely means that the shot clock to a potential recession has started,” said Ryan Detrick of LPL Financial. “The good news can take upwards of a couple of years potentially for a recession to take hold.”

Meanwhile, oil increased, with WTI crude jumping more than 4% and back above $100 a barrel, while Brent crude rose nearly 3%, raising investor concerns about a possible recession.

Oil’s gains came as investors continued to monitor developments in Ukraine. German Chancellor Olaf Scholz said Sunday that Western nations would impose additional sanctions on Russia in the coming days.

About Us

We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.

Recent Posts

The Lake Companies | Making Manufacturing Easier…Forever! | Greg Lake

Today, most manufacturing companies face similar challenges. Those tend to intertwine themselves with implementing and adhering to best business practices. There are many reasons for this, including:
No standard definition for best practices.
The unending confusion of new shiny objects created by the technology industry.
The fact that manufacturing is such a complex industry.

Cyncly | Preparing Customers for the Future | Andrea Gnoato

Cyncly was created in September of 2022 as the new brand to unite Compusoft, 2020, and their affiliate companies after the two companies merged in 2021. One of the key factors driving the decision to form Cyncly as a global brand was that consumers worldwide wanted a seamless experience when they decided to improve their homes.

Tecnomatix | Making Transformative Products | Tony Hemmelgarn

Tecnomatix® is a comprehensive portfolio of digital manufacturing solutions that helps companies to digitalize manufacturing and the process of turning innovative ideas and raw materials into transformative products. It is a software suite that enables organizations to create a digital twin of their manufacturing processes, including robots, automation, material handling systems, and people, to improve the performance of their business.

S&P 500 increases to start the week, Nasdaq gains 1.9%