Tech stocks have been on the rise for the first four days of trading in 2018. The is the most consecutive days that tech stocks have risen at the beginning of January in eight years. Many Wall Street experts attribute the rise in tech stocks to the recent report that was issued by the U.S. Labor Department. It said that almost 150,000 people had been hired in December. This was slightly below the number that many people expected. However, it proves beyond the shadow of a doubt that the economy in the United States is much healthier than many people in the media are reporting.
Apple gained a little more than one percent to reach $175. Alphabet is now up to $1,110 after gaining $14. The surge in the economy is also expected to pay huge dividends for companies in the health care industry. Consumer-based companies like CarMax and Netflix are also showing steady growth. It remains to be seen how long this period of growth will last. However, tech companies have not announced their holiday sales figures as of yet. These figures will play a large role in determining the directions of tech stocks in the near future. It is expected that all of the big companies did very well. Amazon in particular has indicated huge holiday business. However, their specific figures are still unknown.
Thursday was important because it was the first time that the Dow Industrials closed above 25,000 points in the new year. This has many people on Wall Street very excited about the prospects of 2018 being a banner year for profits in many different industries. There are many indicators that companies will continue to hire people in large numbers. Stock prices will continue to soar if this turns out to be true.
Align Technology is one of the health care companies that has benefited greatly from the recent boost in the economy. Their stock is currently trading at $241. One of the companies that is not doing well is Barnes & Noble. The book store had a drop in holiday sales from a year ago. Their online division is also getting crushed because of the massive amount of people who are taking advantage of Amazon Prime. Barnes & Noble stock is now worth less than $6 a share. The company knows they must turn things around in a hurry in order to stay afloat.