US indices hit new all-time highs last Friday, as investors continue to hope for the adoption of a new US stimulus.
In fact, the Dow Jones Industrial Average increased by 0.09%, reaching 31458.40 points. The S&P 500 also rose by 0.47% and hit 3934.83 points, while the Nasdaq Composite jumped by 0.50% and closed at 14095.47 points.
All in all, over the past week, the DJIA gew by 1%, the S&P 500 climbed by 1.2% and the Nasdaq Composite increased by 1.7%.
The main reasons for these gains are the optimistic news on the US labor market, as well as the growth of the US GDP. The possible introduction of a new stimulus also pushed the stock indices up.
But this Monday, the US stock market will be closed due to President's Day.
Anyhow, to put it more precisely, stocks of Coherent jumped by 13.8% last Friday amid reports of the company making an offer to buy another company that manufactures photonic equipment.
Meanwhile, shares of Expedia fell by 2.3%, after the agency reported a lower-than expected Q4 data.
Stocks of Cloudflare also dropped by 5.8% even though its quarterly results exceeded experts' forecasts.
Shares of Walt Disney also sank by 1.7%, despite observing a significant increase in the number of subscribers this 1st quarter.
Stocks of Bumble, on the other hand, increased by 7.3%.
The improving pace of vaccination seems to have influenced stock indices as well. Investors continue to monitor the situation with COVID-19. Therefore, investments rose when US President Joe Biden announced that the administration received sufficient doses of vaccine from both Moderna and Pfizer.
Aside from that, the US Fed has also pledged to maintain a soft monetary policy until the economy recovers.
But statistics released last Friday indicated that consumer confidence in the United States unexpectedly dropped to its lowest since August 2020. According to the preliminary data published by the University of Michigan, the indicator fell to 76.2 points, which is much lower than the expected 80.8 points.