Here’s the Latest Trend Pushing Stock Markets Higher

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Friday morning brought continuing enthusiasm to Wall Street, as investors remain extremely optimistic about the prospects for the U.S. economy to rebound as the COVID-19 pandemic gradually gets under control. Some market benchmarks reached intraday record territory on solid advances. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) had climbed 107 points to 31,163. The S&P 500 (SNPINDEX: ^GSPC) rose 14 points to 3,885, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up by 39 points to 13,817.

Investors always like to identify trends that are creating gains for astute investors. One hot area of the market lately has been social media stocks, but you have to look beyond the biggest players in the industry to find the biggest recent success stories. On Friday morning, both Pinterest (NYSE: PINS) and Snap (NYSE: SNAP) saw their shares move higher after reporting solid earnings results, and that could bode well for the two social media companies in their efforts to become more influential members of the industry.

Image source: Getty Images.

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