A broad rally Thursday on Wall Street added to the stock market’s solid gains this week and pushed the Standard & Poor’s 500 index and the Nasdaq composite to all-time highs.
Financial and technology companies led the way higher. Small-company stocks also had a strong showing, another bullish signal that investors are feeling more optimistic about the economy. by the Biden administration and unease over the effectiveness of the government’s distribution of COVID-19 vaccines. A wave of selling left the S&P 500 down 3.3% for the week.
“There are a lot of reasons to be optimistic and, obviously, there’s a tremendous amount of stimulus in the system with talks of more,” Price said.Wall Street continues to be focused on individual company earnings. Shares of EBay rose 5.3% and PayPal climbed 7.4% after both companies reported results that blew away Wall Street’s expectations.