S&P Telecom sector rose more than 2.7% on "non-farm payroll day", with the Telecom, Technology, and Consumer Discretionary sectors all rising by at least 2.7% this week

Wallstreetcn
2024.07.05 20:53

On Friday (July 5th), after the holiday break, the results of the UK general election were announced. The US non-farm payroll report ignited investors' expectations of a rate cut by the Federal Reserve in September. The S&P 500 index opened slightly higher, dropping to a daily low of 5531.63 points at 22:11 Beijing time, then fluctuated upwards. At 03:51 (less than 10 minutes before the close), it rose to 5570.33 points, continuing to hit a historical high. At the close, it slightly retraced its gains but still marked a third consecutive trading day of record highs.

The S&P telecommunications services sector rose by 2.74%, the consumer discretionary sector rose by 0.85%, the information technology/tech sector rose by 0.49%, the financial sector fell by 0.28%, the industrial sector fell by 0.4%, and the energy sector fell by 1.52%

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