September has been reported to be the worst month for stock market shares. While investors sweat over decreasing tech sector stocks, Nasdaq has surprised everyone. On Friday, Nasdaq stocks rose by Over 2 percent, leading the company to a positive trading week.
While the September session was the most difficult, Nasdaq managed to break its cycle of fall. Against all odds, Nasdaq stocks managed to turn out its best session.
Earlier today, reports showed that the Nasdaq index increased by 241 points, leading the company to an impressive 2.26 percent growth. Now, Nasdaq stocks stand at 10,913.56. This result follows the 2.7 percent increase on September 9. Since the 9th of September, Nasdaq had been continuing on a losing trajectory for around three months.
Does Nasdaq Stock’s Recent Increase Make Up For The Monthly Performance?
Even though this week, Nasdaq was above several tech companies, we need to note that the company has fallen by 7 percent overall this month. Moreover, there are still a couple of days to September. Things could flip in a heartbeat in the stock market.
Even though tech companies faced the worst possible outcome of the pandemic, FAANG managed to do better than others. FAANG includes Apple, Alphabet, Microsoft, Amazon, and Facebook.
Apple stocks increased by 3.75 percent. All the other tech companies in the FAANG collective saw an increase of 2 percent each as well. Except for Google’s parent company, Alphabet. Alphabet saw an increase of 1.17 percent.
There are other companies that witnessed slight increases in the Wall Street stock market. Even so, the increases weren’t high enough to rescue this trading week.
Dow increased by 1.34 percent taking the company to 27,173.96. Meanwhile, S&P jumped by 1.6 percent. It now stands at 3298.46.
Investors Desperately Wait For Coronavirus Relief Bill
What makes this month more unstable for the stock market is the second wave of coronavirus, the coming presidential elections, among other things. Another factor that is really hurt the stocks is the delay in a second stimulus package. Although lawmakers in Washington report that they could release one by the first week of October, stock market investors are still nervous about the entire prospect.
In the entire charade, Nasdaq stocks tremendous and unexpected 2 percent increase is a sigh of relief and an indication, even if a small one, that things could start getting stable in the coming weeks.
The stock market has been quite volatile recently. However, reports from Washington about a $2.4 trillion stimulus package has given much-needed relief to the investors. However, we should not be quick to celebrate. Unless a vaccine for the virus comes out, the market will remain sour.
For now, the Nasdaq stocks increase has calmed the stock market investors.