S&P 500 Performs Well On Friday’s Trading Sessions As Demand Rises For Chipmakers

The S&P 500 has reportedly worked well in the Friday stock trading session. The surge recorded in the exchange was due to the rise in demand for the chipmakers.

The exchange has performed well due to the broader gains that were attracted by the major chip manufacturing companies.

This is quite promising for the entire investment market as the S&P 500 has continued rising for the fourth consecutive week.

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Performance of the US Stock Markets

The share prices for the NASDAQ stock exchange have risen by 1.48%. The Dow Jones Industrial Average has grown by 0.9% while the S&P 500 has risen by 1.1% on the Friday stock trading session.

The data shows that the stocks for the technology sector surged by over 2%. For NVIDIA Corporation and Micron Technology, the dip-buying still continues.

The share prices for both companies had dipped earlier this week after they shared their earnings and revenue data for the second quarter. It was due to the guidance data the share prices for both companies ended up declining.

However, the investors have started purchasing their shares in order to generate high gains.

Share Prices for Tech and Chip Stocks

The share prices for chipmakers and tech companies have continued moving upwards.

In the Friday trading session, the share prices for Apple rose by 1%. The tech company revealed it has asked the suppliers of iPhones to increase their production as they want to meet high consumer demand.

The analysts have predicted that the tech sector may experience an almost 2% surge in the upcoming week. It may happen because the signs of inflation easing and recession fading will help the investors come back to markets.

Slipping Oil Prices

The oil market has finally started to lose its strength as the price of oil is constantly moving downward. Initially, there was a fear growing surrounding the demand and supply of oil.

However, as OPEC is ramping up oil production, the fear has started to fade. On top of that, the Russia-Ukraine conflict may also get dealt with soon, which may lift off another stress from oil prices.

As the oil prices keep moving downwards, investors and consumers may return to their preferred commodity. This would result in pulling down the share prices of the energy companies.

In the overall stock trading market data, Toast emerged as the top gainer in the Friday trading session. It has recorded a 13% surge in its share prices in the latest market trading session.

The restaurant chain (Toast) recorded losses after sharing strong earnings guidance for the rest of the year.

The biggest loser in the Friday stock trading session, Illumina has lost 14% of its stock value.

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