Soaring SaaS Stocks Lift the Markets; GameStop Keeps Winning
Market participants expect the right things to happen, including a healthy federal government stimulus package, prudent management of monetary policy by the Federal Reserve, and continued support from other financial markets. The S&P 500 (SNPINDEX: ^ GSPC) had accumulated 32 points to 3,479, and the Nasdaq Composite (NASDAQINDEX: ^ IXIC) had risen 126 points to 11,548. Many of the software-as-a-service (SaaS) stocks that helped start the markets higher in 2020 rose again on Friday, showing continued demand for fast-growing tech companies.
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