Tuesday’s gains in US stock indices were mostly due to chipmakers’ and other megacap stocks’ excitement over the three interest rate reduction this year.
The S&P 500 was up 15.22 points, or 0.29 percent, at 5,233.41, the Nasdaq Composite was up 73.22 points, or 0.45 percent, at 16,457.68, and the Dow Jones Industrial Average was up 70.78 points, or 0.18 percent, at 39,384.42 at 09:33 a.m. ET.
The Dow Jones Industrial Average increased 24.68 points, or 0.06 percent, to 39,338.32 at the opening bell. The Nasdaq Composite increased by 62.38 points, or 0.38 percent, to 16,446.85, while the S&P 500 began up by 10.66 points, or 0.20 percent, at 5,228.85.
Tesla’s stock increased by 5.7%, Micron Technology’s by 2.5%, and Nvidia’s by 0.9%. Microsoft increased by 0.4%, while Meta Platforms saw a 1% increase. The Trump Media & Technology Group saw a 43.1% increase in its first trading day.
This week is the deadline for the vital Personal Consumption Expenditures (PCE) price index data for February.
Britain’s FTSE 100 increased by 0.1% to 7,927.78 in Europe. The CAC 40 of France increased by 0.2% to 8,168.12. The DAX in Germany increased by 0.6% to 18,378.13.
Hong Kong’s Hang Seng Index rose 0.9% to 16,618.32 on Asian stock markets. The Shanghai Composite increased 0.2% to 3,031.48. Nikkei 225 of Japan closed at 40,398.03, unchanged.
Prices for crude oil fluctuated on Tuesday. By 14:15 GMT on Thursday, Brent crude futures, which are scheduled to expire, were down 11 cents at $86.64 per barrel, while US West Texas Intermediate (WTI) crude futures were up 6 cents at $82.11.
