New York City, New York Dec 12, 2024 (Issuewire.com) - In a historic milestone, the Nasdaq Composite Index surged past the 20,000 mark for the first time, closing at 20,034.89 points after a notable increase of 1.77%. The index reached an intraday high of 20,555.93 points, driven by significant gains in major tech stocks such as Tesla and Alphabet, Googles parent company.
Alphabet's stock rose by 5.52%, ending the day at $195.40, with a market capitalization of $2.39 trillion. The stock achieved an intraday peak of $196.11, marking a new all-time high. Similarly, Tesla's stock increased by 5.93% to $424.77, elevating the companys market value to approximately $1.36 trillion, with an intraday high of $424.88.
Since November, Teslas continuous stock gains have significantly boosted CEO Elon Musk's personal wealth, making him the worlds first billionaire with a net worth exceeding $400 billion.
Other tech giants also experienced substantial gains during this market rally. Amazon's stock rose by 2.32% to reach $230.26, resulting in a market capitalization of about $2.42 trillion. Meanwhile, Metas stock increased by 2.16% to $632.68, with a market value of approximately $1.60 trillion.
On the macroeconomic front, the U.S. Labor Department's inflation data for November, released before the market opened, aligned closely with expectations, leading traders to boost bets on a potential Federal Reserve rate cut. The CME's FedWatch tool indicates an over 90% probability of a 25 basis point rate cut next Wednesday.
Tom Hainlin, a senior investment strategist at U.S. Bank Asset Management, stated, The market has been on an upward trend, and there are no factors to prevent it from continuing to rise before the year ends.
Additionally, the National Federation of Independent Business (NFIB) reported that the Small Business Confidence Index rose by 8 points in November to 101.7, the highest level since June 2021. Analysts suggest that small businesses in the U.S. hold a favorable view of President-elect Trump, who is expected to arrive in New York late Wednesday and ring the opening bell at the New York Stock Exchange on Thursday morning.
Reports suggest that Google is poised for four consecutive days of gains, following the company's announcement two days ago about developing a powerful chip suitable for quantum computers, which has led to a significant rise in tech stocks overall. Many industry insiders on Wall Street received relevant information about this market trend earlier and adjusted their investment portfolios accordingly, resulting in greater profits.
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However, how can ordinary individuals access this information? Buying the wrong specific stocks can result in substantial losses even if they receive news about which sectors are likely to rise. So how can ordinary people reference the strategies of business giants to adjust their asset portfolios?
To address these challenges, MAXE, an innovative investment tracking app, is dedicated to helping investors find asset portfolios that suit their needs, said the CEO of MAXE. We provide users with direct access to the portfolios of respected investors, fund managers, and government officials. By tracking real-time changes, we empower users to navigate the complexities of the financial market with confidence. This feature removes information barriers that hinder investors, keeping them updated on market developments. As a result, users can make timely adjustments to their portfolios, aligning their strategies with those of industry leaders.
MAXE offers everyday investors a unique chance to explore the investment portfolios of influential figures, including prominent investors, fund managers, and government officials. This feature allows users to track significant changes in these holdings in real time, helping them overcome the substantial information barriers often found in financial markets. By providing timely insights, MAXE keeps users informed about market dynamics, enabling them to make educated decisions that align with the strategies of industry leaders.
To further assist investors who may miss key opportunities due to information delays, MAXE has launched an innovative AI financial management assistant. This advanced tool utilizes big data and a proprietary algorithm to gather the latest financial insights from reliable sources. Users can engage with the assistant by asking questions about their financial situations and receiving customized investment and financial management strategies that reflect current market trends and data analysis. This personalized approach empowers users to navigate the market more effectively and enhance their strategic decision-making.
Additionally, MAXE delivers real-time market data on various popular assets, including stocks, bonds, commodities, and foreign exchange. The information is presented through engaging visualizations that simplify complex data, making it easier to understand. MAXE also aggregates comprehensive details about users' assets of interest, such as news updates, financial developments, and regulatory filings. This thorough compilation helps users gain a well-rounded view of their chosen assets, supporting informed investment decisions.
The immediacy of these features is particularly valuable for those aiming to capitalize on market opportunities. By analyzing the strategies of successful investors, users can adopt effective techniques and allocation models, refining their investment approaches. This continuous learning process not only improves their understanding of sound investment practices but also fosters a culture of informed decision-making. Ultimately, MAXE equips everyday investors with the necessary tools to navigate the complexities of financial markets with greater confidence and clarity, transforming them into more adept participants in the investment landscape.
MAXE serves users worldwide, with over 300,000 downloads of the app to date. This milestone reflects a growing recognition of MAXE's value, as more individuals turn to the app to enhance their investment and financial management strategies.
MAXE is now available on Google Play and the App Store! Say goodbye to traditional financial management methods and step into the future of finance with MAXE. For more information, visit our website at www.maxeai.com and follow us on social media for the latest updates and tips on financial management.
Source :MAXE AI
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