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<US Mkt>DJIA Ends Up 703Pts; Nasdaq Up 2.5%; Tesla Leads Way Again by Soaring 8%
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U.S. stocks rebounded impressively on Wednesday after a weaker-than-expected core U.S. consumer price index for last December raised expectations that the Federal Reserve would cut interest rates by 25 bps in June and the likelihood that it would cut rates twice in 2025, triggering the steepest drop in U.S. Treasury note yield rates in months. The Nasdaq advanced for the first time in six trading days, closing up notably by 466 points, or 2.5%, at 19,511, near its highest level of the day. The S&P 500 rose 107 points, or 1.8%, to 5,949 at close. The DJIA hiked for the third day in a row, closing up 703 points, or 1.7%, at 43,221. All three indexes posted their best single-day performance since the upsurge on the day after the election. At the start of the fourth-quarter results period, most of the big banks delivered results that beat Wall Street's expectations. Goldman Sachs (GS.US), Citi (C.US) and Wells Fargo (WFC.US) leaped more than 6% post results, while JP Morgan (JPM.US) jumped up 2%. Tesla (TSLA.US) continued to lead the way, closing up 8%. Nvidia (NVDA.S) mounted more than 3%. AAStocks Financial News |
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