The big three stock market indexes (^DJI, ^IXIC, ^GSPC) all open Friday higher after the breakout rally sparked by Nvidia's (NVDA) fourth-quarter earnings results.
Yahoo Finance Reporter Jared Blikre examines the S&P 500's record high — alongside 46 component stocks hitting record highs on Thursday — and how the market rally appears to be broadening out across sectors.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
JARED BLIKRE: Well look at that. The small caps Russell 2000 flirting with the unchanged right now. The other markets, NASDAQ up about half a percent and the Dow and S&P 500 up a little bit less than that. I want to focus on yesterday real quickly. We had 46 record highs in the S&P 500. And that's the most in a long time. And importantly, you break that down by sector 15 of those were in industrials. That's the number one. Number two, we have financials with 12 record highs and only in third place. Do we have tech with 8 record highs?
So something to think about there. Also is the last time the NASDAQ 100 closed at a record high while being up 3% since March of 2000. And a pretty ominous date. But I think that stat is getting a little bit too much play just based on-- I think contextually you have to realize that happened quite a bit on the run up to the top of the tech bubble. All right. Just taking a look at the sector action today.
We have tech followed by financials. Both of those outperforming financials, one of the top sectors in this rally. To the downside we got energy trading down 1%, staples and consumer discretionary just barely in the red. And here is a five-day look at the sector action. More evidence that the rally is broad based here. Materials up 2%, then we have staples.
That's a Walmart play. And then we have tech. So all three of those outperforming and only energy real estate and communication services trading to the downside for the week but just barely so. And let me just leave you with the NASDAQ 100. I'm going to show the market caps here real quickly. NVIDIA, look at that. $2.037 trillion. And that is on a price of $814 up. Let's see over the last year, 244%. So add NVIDIA to the $2 trillion club guys.
BRAD SMITH: All right, Jared. Thanks so much really teeing up today's trading activity plus those record highs from yesterday, really astounding here. Jared, appreciate the breakdown there.
