Stock Market Today: Tech Helps Nasdaq, S&P 500 Extend Streaks

Chipmakers including Qualcomm, Nvidia and Advanced Micro Devices helped spark new index highs Thursday.

Semiconductor
(Image credit: Getty Images)

The stock market rally continued Thursday – though not for all indexes – as investors continued to process yesterday's Federal Reserve decision to taper as well as mixed messages about the economy. The result was a ninth straight day of gains for the Nasdaq Composite, while the S&P 500 ripped off its sixth consecutive advance.

Yet again, the Labor Department reported pandemic-low weekly unemployment data, with 269,000 initial claims for the week ended Oct. 30 ducking under estimates for 275,000 filings and the prior week's revised 283,000.

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Disclaimer

Kyle Woodley was long AMD, AMZN and NVDA as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.