• Tue. May 28th, 2024

US stocks surge as megacaps and chipmakers propel market gains

Byeditor

Mar 26, 2024

US stock indices rose on Tuesday as optimism over three interest rate cuts this year boosted most megacap stocks and chipmakers. At 09:33 a.m. ET, the Dow Jones Industrial Average was up 0.18%, the S&P 500 was up 0.29%, and the Nasdaq Composite was up 0.45%.

During the opening bell, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all started higher. Shares of Tesla, Micron Technology, Nvidia, Microsoft, and Meta Platforms all saw gains. Trump Media & Technology Group also surged 43.1% on its first day of trading under the new ticker symbol DJT.

A report showed a slight rebound in US durable goods orders for February. The important Personal Consumption Expenditures (PCE) price index data for February is expected later in the week. The yield on the 10-year Treasury increased slightly, while the 2-year yield decreased.

In European markets, the FTSE 100, CAC 40, and DAX all saw gains. The Euro Stoxx 50 also rose. In Asian stock markets, the Hang Seng Index and Shanghai Composite both increased, while Japan’s Nikkei 225 remained flat.

Crude oil prices fluctuated on Tuesday, with Brent crude futures down and US West Texas Intermediate (WTI) crude futures up slightly. This news is just a click away for those looking to unlock a world of benefits, such as newsletters, stock tracking, breaking news, and a personalized newsfeed.

By editor

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