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Both the S&P and NASDAQ indices are on pace for record closing levels after the stronger-than-expected US jobs report. The NASDAQ index is up 1.26% on the day while the S&P index is up 0.80%. The Dow Industrial Average is up 0.20%. For the week, the NASDAQ index is on pace for a 4% gain for the week, while the S&P is up 2.25% currently. Some oversizing gains were Datadog and Micron. Intel added another 16.5% . For the year, the stock of the once beleaguered chip manufacturer is up 213%. AMD is up 20.37% this week and up 102% for the year.How have the Magnificent 7 performed in 2026:Alphabet Inc.: +27.95%
Amazon.com: +17.99%
NVIDIA: +15.61%
Apple Inc.: +8.23%
Tesla: -5.19%
Meta Platforms: -7.33%
Microsoft: -14.10%The major indices in the US have been led by the Russell 2000 (the Russell 2000 reached a new all-time high this week at 2888.61 but is below that level currently). iShares Russell 2000 ETF: +15.18% YTD
Nasdaq Composite: +12.45% YTD
S&P 500: +8.03% YTD
Dow Jones Industrial Average: +3.43% YTDThe gains this year come despite the War in Iran and the tariffs. Increased productivity is helping the charge to highs.
This article was written by Greg Michalowski at investinglive.com.
💡 DMK Insight
The stronger-than-expected US jobs report is fueling bullish momentum in major indices, and here’s why that matters for traders right now: With the NASDAQ up 1.26% and the S&P 500 gaining 0.80%, we’re seeing a clear risk-on sentiment that could lead to further upside in tech stocks. This is particularly relevant as traders often look for confirmation from economic indicators before making significant moves. The jobs report suggests resilience in the labor market, which could bolster consumer spending and, in turn, corporate earnings. Keep an eye on the NASDAQ’s recent highs as a potential breakout point; if it can sustain above these levels, it might attract more institutional buying. But don’t ignore the flip side—if the market gets too euphoric, we could see profit-taking or a pullback, especially if inflation data comes in hotter than expected. Watch for key resistance levels around the NASDAQ’s recent peaks and be prepared for volatility as traders react to upcoming economic data releases. The next few sessions will be crucial for determining whether this rally has legs or if it’s just a short-term spike.
📮 Takeaway
Monitor the NASDAQ’s resistance levels closely; a sustained breakout could signal further upside, but be wary of potential profit-taking.
