Wall Street: US equities soars as tensions subsides in the Middle East

As Middle East tensions subsided, US equities saw a recovery on Monday following sharp losses in the previous day. By 9:40 a.m. ET, the Dow Jones Industrial Average had increased by 44.85 points, or 0.12%, to close at 38,031.25.

Money

By Sneha Sengupta On Apr 22, 2024

The S&P 500 had gained 18.13 points, or 0.36 percent, to close at 4,985.36, while the Nasdaq Composite had gained 109.81 points, or 0.72 percent, to complete at 15,391.82. When the Dow Jones Industrial Average opened at 38,116.89, it had increased by 130.5 points, or 0.34 percent. While the Nasdaq Composite gained 114.1 points, or 0.75 percent, to 15,396.13, the S&P 500 increased by 20.1 points, or 0.40 percent, to 4,987.33.

Nvidia recovered 2.8% following a 10% decline in the previous trading session.

Megacap stocks had a little increase in share prices, with Meta Platforms, Amazon.com, and Apple seeing increases of 0.6% to 1.5%. As the manufacturer of electric vehicles lowered pricing in some of its largest countries, including China and Germany, Tesla’s shares fell 3.7%.

Verizon’s stock dropped 3.7% after it revealed lower-than-expected first-quarter revenue. At 4.63 percent, the yield on the 10-year Treasury was unchanged. Late on Friday, the yield on the 2-year Treasury fell from 4.99 percent to 4.97 percent.

Crude oil

Crude oil processing 9% lower in August due to weaker demand | Zee Business

US West Texas Intermediate crude was up 0.03 cents or 0.04 per cent at $83.17 a barrel at 9:46 am CDT (1446 GMT). Brent crude futures were down 48 cents, or 0.55 per cent, at $86.77 a barrel.

Spot Gold

What is the Gold Spot Price? Spot gold was down 2.3 per cent to $2,336.29 per ounce as of 9:43 a.m. ET (1343 GMT). US gold futures slid 2.7 per cent to $2,349.70. Spot silver shed 4.6 per cent to $27.35 an ounce.