US Stock Market HIGHLIGHTS: Dow Jones jumps over 300 pts, US tech stocks-heavy Nasdaq crosses 11,900; investors cheer Micron outlook
US stock market HIGHLIGHTS: The three main Wall Street indices - the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite - finished with sharp gains on Wednesday following a strong strat to the session on Wednesday. Catch HIGHLIGHTS of all the action in the US stock market on March 29.
Dow Jones US stock market HIGHLIGHTS: The three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — registered strong gains after a strong start to the session on Wednesday, March 29. Gains in banking and technology stocks led the gains in the US stock market.
Banking shares continued to recover after days of wild swings owing to the failed collapse and rescue of US-based lenders Silicon Valley Bank (SVB) and Signature Bank, though the takeover of the troubled Swiss bank Credit Suisse lent some support.
The focus in the US stock market once again shifted to the impact of higher-for-longer interest rates, amid fears of at least a mild recession in the world's largest economy.
All eyes are now on a US GDP reading due on Thursday for cues.
Catch HIGHLIGHTS of the action in the US stock market on March 29 here:
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US Stock Market Update | Micron Tech shares soar 7% after chipmaker gives a rosy outlook for 2025 with AI boost to sales
Micron Tech (MU) shares finish with a gain of $4.3 or 7.2 per cent at $63.5 apiece, having jumped as much as 8.7 per cent to $64.4 apiece during the session.
The stock contributes to a 3.3 per cent rise in the PHLX semiconductor index.
US Stock Market Update | Micron Tech shares soar 7% after chipmaker gives a rosy outlook for 2025 with AI boost to sales
Micron Tech (MU) shares finish with a gain of $4.3 or 7.2 per cent at $63.5 apiece, having jumped as much as 8.7 per cent to $64.4 apiece during the session.
The stock contributes to a 3.3 per cent rise in the PHLX semiconductor index.
US Stock Market Update | Dow Jones, S&O 500, Nasdaq Composite finish day 1-2% higher as investors cheer upbeat outlooks from Micron Tech, other companies
The three main US stock market benchmarks — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — finish the session with gains of between one per cent and 1.8 per cent, as investors cheer outlooks from Micron Technology (MU) and other companies that somewhat ease concerns about the resilience of the world's largest economy.
The S&P 500 closes above its 50-day moving average (DMA) for the first time since March 6.
- Dow Jones: up 323.4 points or one per cent at 32,717.6
- S&P 500: up 56.5 points or 1.4 per cent at 4,027.8
- Nasdaq Composite: up 210.2 points or 1.8 per cent at 11,926.2
- Volatility index finishes at its lowest since March 8
Gold Rate LIVE | Yellow metal loses sheen amid strength in US stock market, US dollar (USD)
Gold prices come down as stronger equities as well as the greenback dent the appeal of the precious metal.
- Spot gold: down 0.3 per cent at $1,967.3 an ounce
- US gold rate futures: down 0.3 per cent at $1,966.9 an ounce
Dow Jones LIVE | Dow, other US stock market main indices hold on to much of day's gains on banking, tech boost
At 2:34 pm Wednesday on Wall Street (12:04 am Thursday in India), the three main US stock market benchmarks — the Dow Jones, the Nasdaq Composite and the S&P 500 — are looking strong, with gains of between 0.7 per cent and 1.4 per cent, led by financial and technology shares.
- Dow Jones: up 216.8 points or 0.7 per cent at 32,611.1
- S&P 500: up 44.7 points or 1.1 per cent at 4,015.9
- Nasdaq Composite: up 157.7 points or 1.4 per cent at 11,873.8
Global Market Update | Credit Suisse shares jump 4% to 0.8 Swiss franc
Global Market Update | Banking, tech shares lead European markets higher
European markets strengthen led by gains in banking and technology shares, with the pan-continental Stoxx 600 index rising 1.3 per cent for the day. UBS shares finish 3.7 per cent higher after the company names Sergio Ermotti CEO again to lead the bank's takeover of Credit Suisse.
Britain's Next falls 4.3 per cent after the company continues with a cautious outlook.
Here’s how some of the key indices in the region fare:
- UK’s FTSE 100: up 80 points or 1.1 per cent at 7,564.3
- France’s CAC: up 98.7 points or 1.4 per cent at 7,187
- Germany’s DAX: up 186.8 points or 1.2 per cent at 15,328.8
US Stock Market LIVE | Micron Tech shares zoom after chipmaker draws robust 2025 sales forecast
Micron Tech (MU) shares are holding on to sharp gains, up by $3.4 — or 5.7 per cent — at $62.6 apiece, after the chipmaker forecast strong growth in sales in 2025 on the back of AI.
Earlier in the day, the Micron stock jumped as much as 8.2 per cent to $64.2 per share.
Lululemon shares skyrocket driven by company’s strong annual outlook
Shares in Lulumon Athletica — an athletic apparel retailer — soar after the company lays out a strong annual outlook. The Lulumon stock is up by $41.2 — or 12.9 per cent — at $361.6 apiece.
US Stock Market LIVE | Smallcap index Russell 2000 in the green, up 0.5%
The Russell 2000 index — a barometer of the smallcap space — is up 9.2 points, or half a per cent, at 1,761.8, underperforming the gains of about one per cent each in blue-chip indices Dow Jones and S&P 500.
Dow LIVE | What's driving the US stock market today?
Analysts say easing of concerns about the health of the US banking sector is aiding the sentiment on Wall Street. Optimism on an early pause to the hikes in benchmark interest rates is also supporting bullish bets.
Dollar Index LIVE | Greenback gauge up 0.1%
The Dollar Index — which gauges the American currency with six peers other than the rupee —is up 0.1 per cent at 102.6 at this hour.
The barometer measures the greenback against the following peers:
- Euro
- Japanese yen
- British pound
- Canadian dollar
- Swedish krona
- Swiss franc
US Stock Market LIVE | Intel, Amazon, Zoom, Micron Tech among top gainers; Target among top losers
Top gainers
Stock CMP Change (%) Micron Technology (MU) 62.994 6.27% Intel Corp (INTC) 30.37 3.69% Zoom Video Communications (ZM) 70.51 2.87% Qualcomm (QCOM) 124.715 2.78% Amazon.com (AMZN) 99.81 2.64% Top losers
Stock CMP Change (%) Bath & Body Works (BBWI) 37.505 -1.41% Baidu (BIDU) 157.79 -1.36% Target Corp (TGT) 158.04 -1.08% JD.Com (JD) 41.32 -0.55% US Stock Market LIVE | Dow up 249 pts, Nasdaq up 161 pts
All three of the main US stock market benchmarks — the Dow Jones, the S&P 500 and the US megacap tech stocks-heavy Nasdaq Composite — are up around one per cent each 30-odd minutes into the opening bell.
- Dow Jones: up 249 points or 0.8 per cent at 32,643.2
- S&P 500: up 45.5 points or 1.2 per cent at 4,016.8
- Nasdaq Composite: up 161.2 points or 1.4 per cent at 11,877.2
US Stock Market News: Dow, S&P 500, Nasdaq fell on Tuesday following bank comments; SVB deal remained in spotlight
The three US stock market benchmarks finished lower on Tuesday as investors assessed comments from a top US regulator on the banking space. Technology stocks succumbed to selling pressure after a rally that lasted days, reflected in a bigger fall in the Nasdaq Composite, where five megacap tech stocks hold about 40 per cent of total weight.
The US central bank's head of banking supervision, Michael Barr, said SVB did a "terrible" job of managing risk before its collapse.
Here's how the three indices fared at the end of the day on March 28:
- Dow Jones: down 37.8 points or 0.1 per cent at 32,394.3
- S&P 500: down 6.3 points or 0.2 per cent at 3,971.3
- Nasdaq Composite: down 52.8 points or 0.5 per cent at 11,716.1
Is Dow Jones set for a gap-up start today? Well, that's what Dow Jones futures suggest
The futures contracts of not just the 30-scrip US blue-chip index, the Dow Jones Industrial Average, but also the other two gauges of the US stock market suggest a big gap-up start, minutes ahead of the opening bell on Wall Street.
Here's a look at where the three contracts stand:
- Dow Jones: up 240 points or 0.7 per cent at 32,828
- S&P 500: up 38.3 points or one per cent at 4,039.8
- Nasdaq Composite: up 142.5 points or 1.1 per cent at 12,875
Welcome to Zeebiz.com's blog on the US stock market today! Follow this space to catch realtime updates on the Dow Jones LIVE and much more through the day...
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