US Stock Market Today: Nasdaq, S&P 500 Jump On Tech Earnings Boost
The US stock market indices S&P 500 and Nasdaq Composite opened in the green on Thursday, climbing on the back of strong tech earnings. The tech-heavy Nasdaq opened 1.5% or 340.72 points up at 23,034.05, whereas S&P 500 opened 1.02% or 68.25 point up at 6,789.68. Dow Jones Industrial Average traded 0.81% or 386.70 points higher at 48,272.67 after a muted start.
Strong Tech Earnings Drive Market Gains
Shares of Micron Technology Inc. rose nearly 16% at open after the company posted strong quarterly results. The surge had a ripple effect on other chipmakers with Mag7 company Nvidia trading 1.73% higher at $173.93, Palantir Technologies Inc. jumping nearly 4% to $183.50, and the stock of Advanced Micro Devices Inc. or AMD also trading nearly 4% higher at $205.13.
Earlier in the day, IT major Accenture also released its financial results and reported a nearly 6% year-on-year growth in revenue in the first quarter of the financial year 2026, driven by robust demand for its artificial intelligence-driven IT services. The bottomline rose to $18.7 billion, compared to Bloomberg consensus estimate of $18.52. Despite this, Accenture’s stock fell as low as 4.5%.
Impact on Indian Tech Stocks
The American Depositary Receipts (ADRs) of Indian tech titans Wipro and Infosys rose over 1% on the back of these strong tech earnings. This is a positive sign for Indian investors, as it indicates that the strong performance of US tech companies can have a positive impact on Indian tech stocks. For more information on Indian tech stocks, visit our website.
Commodity Prices and Currency Movements
After the US markets opened, spot gold prices were trading 0.10% lower at $4,334.34 an ounce. Crude oil prices rose with West Texas Intermediate trading 0.88% up at $56.30 a barrel, and Brent crude trading 0.6% higher at $60.05 a barrel. US dollar weakened against other currencies and fell 0.1%. The euro was unchanged at $1.1741 and the British pound rose 0.3% to $1.3419. The Japanese yen also rose 0.2% to 155.39 per dollar.
For investors looking to stay up-to-date with the latest commodity prices and currency movements, it’s essential to keep an eye on global market trends and economic indicators.
Indian Investor Sentiment
Indian investors can take cue from the strong performance of US tech companies and the positive impact it has on Indian tech stocks. However, it’s essential to remember that the Indian stock market is subject to its own set of factors and trends. For more information on Indian investor sentiment, visit our website.
Conclusion
In conclusion, the US stock market’s strong performance, driven by tech earnings, can have a positive impact on Indian tech stocks. Indian investors should keep an eye on global market trends and economic indicators to make informed investment decisions. For more information on stock market news and investment tips, visit our website.