U.S. Stocks Close Higher On Bargain Hunting; Nasdaq Outperforms

RTTNews | 742 days ago

(RTTNews) - After turning in a mixed performance on Friday, U.S. stocks climbed higher on Monday, riding on the strength of technology shares.

Bargain hunting contributed a bit to market's uptick today. Activity in the market was somewhat subdued due to a lack of major U.S. economic data.

Reports on import and export prices, retail sales, industrial production and housing starts are likely to attract attention along with the minutes of the latest Federal Reserve meeting.

Among the major averages, the Dow edged up marginally after spending much of the day's session in negative territory. The S&P 500 and the Nasdaq closed on a firm note.

The Dow, which dropped to 35,169.97 in early trades, ended the session with a gain of 26.23 points or 0.07 percent at 35,307.63. The S&P 500 settled up 25.67 points or 0.58 percent at 4,489.72, near the day's high, while the Nasdaq closed with a gain of 143.48 points or 1.05 percent at 13,788.33.

Technology stocks gained following a rating upgrade of Nvidia by Morgan Stanley. Nvidia shares climbed more than 6 percent.

Intel gained about 2.6 percent. Salesforce.com, Merck and Visa ended higher by 1 to 1.7 percent. Apple, Microsoft, American Express, Meta Platforms, Alphabet and United Health also closed higher.

Shares of United States Steel Corporation skyrocketed 30 percent after the company rejected a buyout from Cleveland-Cliffs Inc.

Tesla shares ended weak after the company announced a cut in prices in China for the Model Y. 3M, Goldman Sachs, Walgreens Boots Alliance, P&G, Walmart, Nike and IBM ended weak.

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index tumbled by 1.3 percent, while Hong Kong's Hang Seng Index dove by 1.6 percent.

Meanwhile, the major European markets closed mixed today. While the U.K.'s FTSE 100 Index ended down by 0.23 percent, the French CAC 40 Index edged up 0.12 percent, while the U.K.'s FTSE 100 ended down by 0.23 percent.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

RTTNews | 56 minutes ago

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | 1h 17min ago

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | 1h 48min ago

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 28min ago

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 2h 56min ago

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 58min ago

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 3h 13min ago

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 3h 16min ago

EURUSD	1.163	GBPUSD	1.34555	AUDUSD	0.64778
USDJPY	147.765	USDCAD	1.38573	USDCHF	0.80562