Wall Street opened with a mixed tone on Wednesday, as investors weighed tech strength against industrial and energy sectors. The Dow Jones Industrial Average slipped 50.58 points, or 0.11%, to 45,245.23, while the NASDAQ climbed 166.67 points, or 0.78%, to 21,446.30, fueled by gains in technology and communications stocks. The S&P 500 added 26.99 points, or 0.42%, to 6,442.53.
This comes after the US markets closed lower on Tuesday with the Dow Jones Industrial Average down 0.55%, the S&P 500 down 0.69 percent and the Nasdaq Composite down 0.82%.
On Wednesday, in commodities, gold rose $28.70, or 0.8%, to $3,620.90, while oil fell $1.12, or 1.7%, to $64.47. The 10-year Treasury yield remained steady at 4.267%, and the VIX volatility index ticked lower to 17.07.
Alphabet shares were among the biggest movers in the market, with Class C shares rising 7.02% to 226.88 and Class A shares up 6.97% to 226.08. The rally followed a ruling on Tuesday which stated that Alphabet will not have to divest its Chrome browser or Android operating system as part of the Department of Justice anti-trust case against the company. Other technology names, including Apple, added to the momentum, helping the NASDAQ outperform its peers.
On the sector front, technology rose 0.48% to 5,208.94, while communication services jumped 3.04% to 410.92. Consumer discretionary added 0.27% to 1,847.44, and industrials edged up 0.02% to 1,270.62. By contrast, energy slipped 0.35% to 685.56, financials fell 0.14% to 888.87, and utilities dipped 0.18% to 423.89. Other sectors, including consumer staples, materials, healthcare, and real estate, were largely flat.
European markets traded mostly higher, supported by steady economic data. Spain’s IBEX 35 gained 19.2 points to 14,723.4 (+0.13%), the FTSE 100 rose 30.99 points to 9,147.68 (+0.34%), Germany’s DAX added 97.75 points to 23,585.08 (+0.42%), and France’s CAC 40 climbed 60.9 points to 7,715.15 (+0.8%). The broader STOXX Europe 600 index advanced 2.69 points, or 0.5%, to 545.86, reflecting modest optimism among European investors.
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