U.S. Stocks Give Back Ground After Early Rally But Close Mostly Higher
18 Março 2024 - 5:42PM
IH Market News
After showing a strong move to the upside early in the session,
stocks gave back some ground over the course of the trading day on
Monday but managed to close mostly higher. With the upward move,
the Nasdaq (NASDAQI:COMP) and the S&P 500 (SPI:SP500) regained
ground after closing lower for three straight sessions.
While the major averages came under pressure going into the
close, they managed to end the day in positive territory. The
Nasdaq advanced 130.27 points or 0.8 percent at 16,103.45, the
S&P 500 climbed 32.33 points or 0.6 percent to 5,149.42 and the
Dow (DOWI:DJI) rose 75.66 points or 0.2 percent at 38,790.43.
Technology stocks helped lead the early rally on Wall Street,
with the tech-heavy Nasdaq showing a particularly strong move to
the upside.
Shares of Alphabet (NASDAQ:GOOGL) surged by 4.6 percent after a
report from Bloomberg said Apple (NASDAQ:AAPL) is in talks to build
Google’s Gemini artificial intelligence engine into the iPhone.
Nvidia (NASDAQ:NVDA) also jumped early in the session ahead of
its GTC Conference, where the chipmaker is expected to provide
updates on its AI initiatives, but gave back ground before ending
the day up by 0.7 percent.
At the same time, shares of Super Micro Computer (NASDAQ:SMCI)
plunged by 6.4 percent after the information technology company was
added to the S&P 500 before the start of trading.
Meanwhile, traders continued to look ahead to the Federal
Reserve’s two-day monetary policy meeting on Tuesday and
Wednesday.
The Fed is widely expected to leave interest rates unchanged,
but the central bank’s accompanying statement and economic
projections could have a significant impact on the outlook for
rates.
Recent hotter-than-expected inflation readings have reduced
optimism about the likelihood of the Fed’s first rate cut coming in
June.
In U.S. economic news, a report released by the National
Association of Home Builders showed an unexpected improvement in
U.S. homebuilder confidence in the month of March.
The report said the NAHB/Wells Fargo Housing Market Index rose
to 51 in March from 48 in February. Economists had expected the
index to come in unchanged.
With the unexpected increase, the housing market index surpassed
the breakeven point of 50 for the first time since hitting 56 last
July.
Other Markets
In overseas trading, stock markets across the Asia-Pacific
region moved mostly higher during trading on Monday. Japan’s Nikkei
225 Index surged by 2.7 percent, while China’s Shanghai Composite
Index jumped by 1.0 percent.
Meanwhile, the major European markets moved modestly lower on
the day. While the French CAC 40 Index dipped by 0.2 percent, the
U.K.’s FTSE 100 Index edged down by 0.1 percent and the German DAX
Index closed just below the unchanged line.
In the bond market, treasuries extended the downward trend seen
throughout the previous week. As a result, the yield on the
benchmark ten-year note, which moves opposite of its price, climbed
3.6 basis points to a three-month closing high of 4.340
percent.
Looking Ahead
Trading activity on Tuesday may be somewhat subdued as traders
look ahead to the Fed announcement, although a report on new
residential construction may attract some attention.
Source: RTTNEWS
Alphabet (NASDAQ:GOOGL)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Alphabet (NASDAQ:GOOGL)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024