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Weekly Comic: Big Tech Shares Lift S&P 500, Nasdaq To New All-Time Highs

Published 08/22/2020, 05:11 AM
Updated 08/23/2020, 11:40 AM

Investing.com - Stocks on Wall Street notched their fourth weekly gain in a row on Friday, with the S&P 500 and Nasdaq both rising to new all-time highs, as the economy continues to recover from the Covid-19 pandemic.

The S&P 500 finished the session up 0.34% to end at 3,397, a new record closing high.

The Nasdaq Composite advanced 0.42% to end the day at 11,311, also a record close.

The Dow Jones Industrial Average meanwhile gained 190 points, or 0.69%, and settled at 27,930. It remains about 5.5% below its all-time high in February.

For the week, the tech-heavy Nasdaq surged 2.7%, its fourth straight weekly gain. The S&P 500 managed a 0.7% gain, also its fourth weekly gain in a row, while the Dow ended the week roughly flat.

Stocks have rallied sharply in recent months, with all three benchmarks up more than 50% from their lows set on March 23 - when coronavirus-related lockdowns shocked the stock market.

The bulk of those gains has been driven by strong performances in the Big Tech stocks.

Tesla (NASDAQ:TSLA) notched yet another record on Friday ahead of an upcoming stock split, with shares of the Elon Musk-led Silicon Valley car maker nearing the $2,100-level for the first time in history. The stock has gained around 390% this year.

Apple (NASDAQ:AAPL) climbed more than 8% on the week – becoming the first publicly traded company in the U.S. to reach a market valuation of $2 trillion. Its shares are up almost 70% in 2020.

Amazon (NASDAQ:AMZN) also rallied over 4% this week, bringing its year-to-date gains to about 78%.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

Latest comments

yes wonderful art and exiting
wonderful art! 😹👽
The higher the market the time to sell
This cartoon image makes me want to throw up.
Chance of a lifetime!! NASDAQ is thin as a balloon stretched on a baseball bat. I've been giving back some of my profit from March holding out for the next crash. It's 'gonna come!! Options out of the money right now are cheap while the market climbs. Don't miss out!!
"put options"
any ticker specifically? Sqqq?
Today’s headline from the Associated Press: “Trump Ordered to Pay $44,100 in Stormy Daniels Legal Fees.” Apparently, as part of their signed agreement, whoever lost the case would have to pay the other’s legal fees. Well, the man who the GOP will nominate for President next week slept with a *****star while he was married to his wife, and he lost the case. So now he pays the *****star’s legal expenses. I hope the GOP members are proud of themselves. Either they think what Trump did was really, really cool, or they simply don’t care. Oh, and did I mention there were at least 7 other women who also said he cheated on his wife with them. At last count he only impregnated two of them and now pays millions in child support to both every year. Which is exactly why Trump does not want anyone, including his wife, seeing his tax returns.
Yeah ur right i dont care
So how does that affects global markets ?he cant be compared with bill clinton who *******a woman whilst a sitting president First time in world historyDonald trump is a billionaire $44k is like nothing to himYou dont even have $1k
Guess which one of these 3 makes garbage products but sub intelligent people love to buy?
FAANG stock, especially AAPL, AMZN and TSLA are a ponzi scheme created by big traders consensus
5 tech companies make up 20% of SPX. Tsla isnt in the SPX. Tsla outstanding shares are 184m that's why it us so volatile. After the AAPL you may see their intraday movement decrease significantly.
If bitcoin taught us anything it's that market cap. (share price×outstanding shares) is a horrible way to value a company.
Should I buy in Apple before or after split? Thank you.
If you buy before the split, most stocks will see a jump in value after the split because the shares become more affordable to a lot more investors which drives up demand and prices.  However, Apple is already highly overbought and will see a correction soon.  Best advice... buy now, sell at a profit after the split, wait for the correction, then repurchase for long term.
Consoder this ... apple has very high valuation currently.. before AND after the split
A lot of “new” (read: young) investors are buying Apple and Tesla by leaps and bounds because they believe that stock split means they get additional “extra stocks.” I expect a serious dump after the stock splits, in addition to a “sell the news” event. Sell now, buy after the split.
I have benefited from this rally but hate articles like this that only tell half the story and mislead people. look at the broad market. it is deteriorating before our eyes. investors are painting themselves into a corner by buying only big name tech stocks. there will be a correction before the election. start taking profits now if you haven't done so already and go to cash as soon as possible. it's okay to miss the last three or four percent up when you're going to see these things drop like a stone. The elevator is getting very heavy.
Great point. Only a small percentage of stocks have actually fully recovered since the crisis started.
the higher they go, the harder they fall#BitcoinAllIverAgain
Suiciding should go higher.
thank you trump and jpow for creating the biggest Ponzi scheme.
Apple isnt over priced. Tell me one company in america that is making phones like them.
Of all the companies that have a single share prive over 1000 per why isnt Apples at this point?Amazon and even Tesla are more valuable companies??🤔
What we tried to say in obvious mispellingsWhy has a company stick like Apple evere reached 1k + a share?It hasnt split that much in the past 4 years. YET Amzn and Tesla are thousand dollar plus stocks?Why is that???
 share nominal price isnt that relevant in relation to value of the company, the market cap is (shares on issue X share price)
Investors in the S and P currently are akin to Truman from the Truman show. Oblivious to the manipulation going on as they think they are smarter than everyone else at the profits they think they are making. We all know how the Truman Show ended.
 Thats why I hold indexes, and rotate individual company stocks. Indexes will V recover every single time these days, and they rotate in winners for me without me needing to work. SPY is the largest ETF in the world. Im accumlating SPY, I don't care what the share price is, in 10 years it WILL be higher than it is now, or there won't be a USA.
 Yes, you are correct. This strategy has worked since the 90's when passive index funds were introduced. And there is no direct evidence to suggest that this strategy won't work in the near future. In fact it has been so successful that the industry standard is now to invest passively into the index. However I urge you to look at the fundamentals of ETF's, how they operate in relation to discretionary investing and what the implications will be when passive investing overtakes discretionary investing as the main method of how people invest into equities.
 Is the case for index investing not clear, right now? It's stronger than ever, you'd have to be crazy to short SPY. My 401k bought the dip all the way down, and all the way back up and is up 15% this year, 22% y/o/y to date. People dont create wealth by selling stocks, that's just not how it works anymore. I mean, technical trading and/or market timing can be VERY profitable, if you don't have a day job and have the time to make that your day job. Most americans are not in this position to monitor open trades for risk 6-8 hours a day. Volatility is too much right now.
It's going to be ***when this bubble bursts... take care!
it'll probably burst in November.
Fed can unlimit to print more anytime unless it kepps more layoff this fall without stimulus something, default, or something.
Bubbly
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