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Nasdaq Hits Highs on Tech Rally | Closing Bell
Posted
August 8, 2025
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741
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August 8, 2025
741
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9:12Now PlayingComprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Scarlet Fu, Katie Greifeld, Carol Massar and Jess Menton.
The stock market saw its best week since June, with a rally in big tech driving the Nasdaq 100 to all-time highs. Also buoying trader sentiment were hopes the US and Russia will reach a deal to halt the war in Ukraine. Treasuries fell. Gold whipsawed.
The S&P 500 approached 6,400. A gauge of the “Magnificent Seven” megacaps also hit a record. Apple Inc. saw its best week since 2020 as plans to spend an additional $100 billion on domestic manufacturing may help the company avoid tariffs. Fannie Mae and Freddie Mac soared on reports the US is preparing to sell shares in an offering that could start as early as this year.
The yield on 10-year Treasuries rose three basis points to 4.28%. The dollar barely budged. Oil fluctuated. The Trump administration suggested it would issue a new policy clarifying that imports of gold bars should not face tariffs.
US and Russian officials are working toward an agreement on territories for a planned summit meeting between Donald Trump and Vladimir Putin as early as next week, Bloomberg News reported, citing people familiar with the matter.
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