U.S. stock indexes fell on the tueday trading sessions due to concerns about the Russia-Ukraine war intensifying, but Nvidia helped them rise on Tuesday.
The S&P 500 recovered 0.4 per cent after reversing a 0.7 per cent initial decline. In addition, the Nasdaq composite recovered from an early decline to rise 1 per cent, while the Dow Jones Industrial Average fell 120 points, amouting 0.3 per cent.
Nvidia’s 4.9 per cent increase was primarily responsible for the index’s increase. Due to the excitement surrounding artificial intelligence technology, the chip company’s stock surged ahead of its results for the most recent quarter, which are due on Wednesday, and soared to a gain of almost 197 per cent for the year.
S&P 500
The broad index of the US market, S&P 500 was taken over by the bulls after the index saw a correction, when the Trump effect faded out, which previously had propelled the US markets to a new life high, and recorded several record levels on the US bourses.
The S&P 500 went on to touch the day high level of 5,923.51 points after hitting the opening bell at 5,870.05 points, the start of the trading session turned out to commence in negative territory comapared to previous day’s closing bell level of 5,893.62 points. The index concluded at 5,916.98 points with a 0.40 per cent surge amounting to 23.36 points.
Nasdaq Composite
The index of the tech giants comprising of tech titans like smartphone maker Apple, chip giant, having the valuation over USD 3 trillion Nvidia, and other members of magnificient seven. The Nasdaq Composite also surge after a massive fall caused by fading of trump effect.
The index went to touch the day high level of 18,992.08 points after ringing the opening bell at 18,699.70 points. The index was siding with bulls and surged more than 1 per cent on the bourses. The index concluded at 18,987.47 points, after ignoring negative sentiments and surging about 1.04 per cent amounting to a 195.66 points.
Dow Jones Industrial Average
The oldest index trading on the US bourses, Dow Jones Industrial Average, opened with negative sentiments, the index hasn’t recorved from the decay of optimism and fading of Trump effect. The index hit the opening bell at 43,243.27 points, before the index tried to take itelf out of the negative territory, and into positive territory over the previous closing level of 43,389.60.
The index touched day high level of 43,380.97 points, which was close to 8.62 points from the closing bell level of 43,389.60 points, in previous day, to propell itself into positive territory. The Index concluded the day at 43,268.94 points with 0.28 per cent upsurge amouniting to a 120.66 points.
Investor turning to safe heavens
Investors turned to U.S. Treasury bonds, which are regarded as some of the safest investments in the world, as a result of the concerns. The 10-year Treasury yield dropped from 4.41 per cent late Monday to 4.39 per cent as a result of the price increase.
Following Donald Trump’s win in the U.S. presidential election, gold also increased by 0.6 per cent and partially recovered its losses as investors moved into areas that are typically thought to be safer in times of crisis.
<!– Published on: Wednesday, November 20, 2024, 10:33 AM IST –>
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