On Wednesday, US markets were moving sideways, with Tesla driving the Nasdaq higher and the Dow Jones retreating from its early gains. At 9:39 a.m. ET, the S&P 500 was up 14.60 points, or 0.29 percent, at 5,085.15, the Nasdaq Composite was up 127.90 points, or 0.81 percent, at 15,824.54, and the Dow Jones Industrial Average was down 33.34 points, or 0.09 percent, at 38,470.35.
The Nasdaq Composite increased 109.0 points, or 0.69 percent, to 15,805.601, while the S&P 500 gained 14.3 points, or 0.28 percent, to 5,084.86. Following the electric vehicle manufacturer’s prediction that sales will increase in 2024, Tesla’s shares increased by 9.7%.
Microsoft’s and Nvidia’s stock increased by 0.8% and 1.6%, respectively. Visa increased 2.4% after the massive payments processor’s second-quarter earnings topped Wall Street forecasts.
Boston Scientific gained 6.1% following an increase in the company’s yearly profit projection for medical devices. Wabtec increased 10.8% after the manufacturer of heavy industrial parts increased its projected full-year earnings.
Meta Platforms’ and Snap’s shares increased by 1.8% and 0.6%, respectively, following the US Senate’s passage of a bill that forbade TikTok in the event that its proprietor, ByteDance, failed to divest the app. Late on Tuesday, the yield on the 10-year Treasury increased to 4.63 percent from 4.60 percent.
Crude oil rates
On Wednesday, the price of a barrel of crude oil remained stable at $88. By 1315 GMT, US West Texas Intermediate crude futures had dropped 47 cents, or 0.6%, to $82.89, while Brent crude futures had dropped 35 cents, or 0.4%, to $88.07 a barrel.
Bullion status
Prices for gold declined on Wednesday. Spot gold fell 0.1% by 9:20 a.m. ET (1320 GMT) to $2,318.50 an ounce. US gold futures decreased by 0.2% to $2,336.50. Spot silver fell by 0.3% to $27.20.
