Wall Street: US stock indices surged on Wednesday bolstered by megacap stocks and positive corporate earnings.
At 9:41 a.m. ET, the Dow Jones Industrial Average was up 146.74 points, or 0.39 per cent, at 37,945.71, the S&P 500 was up 20.02 points, or 0.40 per cent, at 5,071.43, and the Nasdaq Composite was up 71.46 points, or 0.45 per cent, at 15,936.71.
At the opening bell, the Dow Jones Industrial Average rose 150.70 points, or 0.40%, to 37,949.67. The S&P 500 was higher by 17.56 points, or 0.35%, at 5,068.97, while the Nasdaq Composite gained 77.03 points, or 0.49%, to 15,942.29.
Shares of Microsoft, Alphabet and Nvidia advanced between 0.4 per cent and 0.8 per cent.
United Airlines stock rallied 9.4 per cent after it forecast stronger-than-expected numbers this quarter.
Omnicom Group rose 3 per cent after reporting stronger quarterly profit.
JB Hunt Transport Services tumbled 6.4 per cent after the trucking firm missed Wall Street estimates for the first quarter.
Travelers also dropped 6.7 per cent after missing Wall Street expectations for the first quarter profit.
The 10-year Treasury yield eased to 4.62 per cent from 4.67 per cent late on Tuesday. The 2-year yield fell to 4.95 per cent from 4.99 per cent.
European stock markets rebounded on Wednesday after heavy losses in the previous session.
Britain’s FTSE 100 rose 0.8 per cent at 7,882.81. France’s CAC 40 climbed 1.5 per cent at 8,051.44. Germany’s DAX added 0.7 per cent at 17,894.29.
The Euro Stoxx 50 gained 1.0 per cent at 4,965.06.
In Asia, Hong Kong’s Hang Seng Index was flat at 16,251.84. China’s Shanghai Composite soared 2.1 per cent at 3,071.38. Japan’s Nikkei 225 fell 1.3 per cent at 37,961.80.
Crude oil
Oil prices slipped more than $1 on Wednesday on higher US commercial inventories.
Brent futures for June were down $1.21, or 1.3 per cent, to $88.81 a barrel at 1330 GMT, while US crude futures for May were down $1.11, or 1.3 per cent, to $84.25 a barrel.
Bullion
Gold prices rose on Wednesday as Middle East conflict spurred safe-haven demand.
Spot gold rose 0.4 per cent to $2,391.10 per ounce, as of 9:40 a.m. ET (1340 GMT). US gold futures fell 0.1 per cent to $2,405.40.
Spot silver rose 1.8 per cent to $28.60.
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Published: 17 Apr 2024, 07:34 PM IST