22/02/24 23:10
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wall street Stocks soared Thursday, buoyed by a solid earnings report and positive data trends from chipmaker Nvidia.
of Dow Jones Industrial Average It rose 1.18% to close at 39,069.11 points. S&P500 It rose 2.11% to 5,087.03 points. Nasdaq Composite It rose 2.96% to 16,041.62 points.
In the foreign exchange market, the dollar was stable against the British pound and the euro, most recently unchanged at 78.99 pence and 92.4 euro cents, respectively.
However, it fell slightly against the yen, dropping 0.01% to 150.52 yen.
“NVIDIA’s 12% rise and Nasdaq 100 weighting lifted the index…risks to sentiment are re-emerging,” he said. I.G. Senior market analyst Axel Rudolph said:
“The mood was not dampened by the fact that Treasury yields rose to 4.35% for the first time in nearly three months, and that initial jobless claims were much lower than expected.
“The dollar reversed its initial post-FOMC decline on Thursday afternoon, ending gold’s six-day streak of gains.”
Latest data shows unemployment claims slowing, private sector growth slowing
In economic news, the Labor Department reported that the pace at which Americans applied for state unemployment benefits slowed in the week ending February 17.
The number of new applications fell by 12,000 to 201,000, the lowest level in five weeks.
This figure was well below market expectations of 218,000 and a marked decline from the 16-month low of 189,000 recorded five weeks ago.
Continuing claims also decreased by 27,000 to 1.86 million, exceeding the forecast of 1.88 million.
This data suggests that unemployed people are now finding work more easily.
At the same time, the four-week moving average, which smooths out weekly fluctuations, fell by 3,500 to 215,250.
Elsewhere, growth in U.S. private sector activity slowed slightly in February, released figures showed. S&P Global.
This month’s Purchasing Managers’ Index (PMI) was 51.4, down from 52.0 in January.
Despite the decline, it was the second highest growth rate since July last year.
The services PMI fell to 51.3 from 52.5, falling short of economists’ expectations but remaining in growth territory for the 13th consecutive month.
Conversely, the manufacturing PMI unexpectedly rose to a 17-month high from 50.7 to 51.5, beating the consensus estimate of 50.5.
This increase can be attributed to increased production and supply chain improvements following bad weather in January.
Chris Williamson, the company’s chief business economist, said: “Favourable weather conditions compared to January overcame transport concerns, improved supplier delivery times across the board and helped factories increase production. ” he said. S&P Global Market Intelligence.
“Signs that inventory reduction policies are becoming less widespread also helped boost production and maintain high business confidence for manufacturers’ prospects for the year ahead.”
Finally, regarding data, existing home sales in the US increased by 3.1% month-on-month in January. National Association of Realtors.
Sales reached a seasonally adjusted annual rate of 4 million units, the highest level in five months and slightly higher than expected.
Although the number of properties increased modestly, buyers took advantage of lower mortgage rates compared to late 2023.
Sales surged in the Midwest, South, and West regions, and remained strong in the Northeast.
In January, the median existing home price for all home types hit a record high of $379,100.
Nvidia leads technology, Newmont and Rivian slide
In the stock market, NVIDIA Corporation Shares rose 16.4% after the AI chip and graphics processor giant reported impressive quarterly results after Wednesday’s close.
The role of the chip supply chain applied materials rose 4.94% on the back of Nvidia. sales force and ServiceNow Tech companies cutting into the AI pie posted gains of 3.62% and 2.81%, respectively.
biotech companies moderna The stock soared 13.53% after reporting unexpected quarterly profit and sales that beat Wall Street expectations.
As a disadvantage, Newmont The stock fell 7.6% after announcing plans to cut its dividend and sell non-core assets.
electric car manufacturers Rivian Automotive The company fell 25.6% after it reported a bigger-than-expected quarterly loss and expected production to be slightly lower this year compared to 2023.
Report by Josh White of Sharecast.com.
Dow Jones – Risers
salesforce.com, Inc. (CRM) $293.65 3.56%
Visa Co., Ltd. (V) $283.75 2.53%
International Business Machines Corporation (CDI) (IBM) $184.21 2.51%
Microsoft Corporation (MSFT) $411.65 2.35%
Home Depot Co., Ltd. (HD) $371.34 1.98%
Caterpillar Company (CAT) $322.09 1.56%
American Express Company (AXP) $213.99 1.47%
Travelers Company Co., Ltd. (TRV) $222.30 1.28%
JPMorgan Chase & Co. (JPM) $183.07 1.20%
Apple Inc. (AAPL) $184.37 1.12%
Dow Jones – Falls
Intel Corporation (INTC) $42.98 -1.13%
Verizon Communications Inc. (VZ) $40.73 -0.90%
Walgreens Boots Alliance, Inc. (WBA) $21.57 -0.83%
Nike Corporation (NKE) $105.08 -0.18%
Coca-Cola Company (KO) $61.15 -0.15%
Boeing Company (BA) $201.50 -0.03%
Walt Disney Company (DIS) $107.64 -0.03%
Chevron Corporation (CVX) $155.43 -0.01%
DowDuPont Co., Ltd. (DWDP) $0.00 0.00%
Procter & Gamble Co. (PG) $160.56 0.10%
S&P 500 – Riser
Nvidia Inc. (NVDA) $785.38 16.40%
Advanced Micro Devices Company (AMD) $181.86 10.69%
Quanta Service Co., Ltd. (PWR) $232.93 10.28%
Synopsys Inc. (SNPS) $580.90 6.87%
Royal Caribbean Cr (RCL) $122.56 6.67%
Mosaic Company (MOS) $32.22 6.58%
Broadcom Corporation (AVGO) $1,304.90 6.31%
FMC Technologies Inc. (FTI) $21.52 6.17%
Arista Networks, Inc. (ANET) $268.76 5.61%
Micron Technology Co., Ltd. (MU) $85.91 5.42%
S&P 500 – Down market
Newmont Corporation (NEM) $30.89 -7.60%
Teleflex Co., Ltd. (TFX) $237.70 -5.28%
Nectar Therapeutics (NKTR) $0.66 -4.20%
Apache Inc. (APA) $30.22 -3.88%
AES Co., Ltd. (AES) $16.00 -3.32%
Agilent Technologies, Inc. (A) $132.02 -2.45%
Apartment Investment Management Co., Ltd. (AIV) $7.65 -2.42%
AT&T Corporation (T) $16.59 -2.41%
Essex Private Trust Ltd (ESS) $229.95 -2.24%
DTE Energy, Inc. (DTE) $107.02 -1.96%
Nasdaq 100 – Riser
Nvidia Inc. (NVDA) $785.38 16.40%
Qurate Retail Inc. (QRTEA) $1.35 10.66%
Synopsys Inc. (SNPS) $580.90 6.87%
Trip.com Group Co., Ltd. (TCOM) $44.67 6.59%
Broadcom Corporation (AVGO) $1,304.90 6.31%
Micron Technology Co., Ltd. (MU) $85.91 5.42%
Cadence Design Systems, Inc. (CDNS) $305.57 5.09%
Liberty Global plc Series C (LBTYK) $19.53 4.94%
Applied Materials Co., Ltd. (AMAT) $199.73 4.94%
KLA-Tencor Corp. (KLAC) $683.77 4.89%
Nasdaq 100 – Falls
Intel Corporation (INTC) $42.98 -1.13%
Analog Devices, Inc. (ADI) $191.91 -0.93%
Walgreens Boots Alliance, Inc. (WBA) $21.57 -0.83%
Vodafone Group Plc ADS (VOD) $8.40 -0.83%
Illumina Inc. (ILMN) $135.55 -0.63%
Gilead Sciences, Inc. (GILD) $72.78 -0.57%
Dollar Tree Co., Ltd. (DLTR) $144.76 -0.46%
T-Mobile Us, Inc. (TMUS) $163.55 -0.30%
Adobe Systems, Inc. (ADBE) $537.57 -0.18%
Monster Beverage Corporation (MNST) $55.11 -0.05%