Soaring SaaS Stocks Lift the Markets; GameStop Keeps Winning
Friday morning brought another great performance from the stock market, with major market benchmarks launching higher yet again in what appears to be a likely attempt to hit new all-time highs. Market participants are expecting that all the right things will happen, including a healthy stimulus package from the federal government, prudent management of monetary policy from the Federal Reserve, and continuing support from other financial markets.
Just before noon EDT today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 235 points to 28,661. The S&P 500 (SNPINDEX: ^GSPC) had picked up 32 points to 3,479, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had moved higher by 126 points to 11,548.
Many of the software-as-a-service (SaaS) stocks that have helped launch markets higher throughout 2020 were on the rise again Friday, showing ongoing demand for fast-growing tech companies. For some investors, a more surprising entry on the list of winners is GameStop (NYSE: GME), but the video game retailer continued to gain ground after announcing a key new partnership Thursday.
Source Fool.com
