US Stock Market Today: Nvidia and Tesla Weigh on Nasdaq and S&P 500
The US stock market began the last week of the year on a negative note, with the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average opening in the red. The tech-heavy Nasdaq slumped 0.80% or 185.60 points at open to 23,407.49 after bellwether Nvidia Corp. weighed on the index.
Nasdaq and S&P 500 Performance
The wider index, S&P 500, was also dragged down 0.43% or 29.74 points to 6,900.20 while Dow Jones opened 0.10% or 46.52 points lower at 48,664.45. An hour after opening, S&P traded 0.37% or 22.65 points lower at 6,904.03, Nasdaq traded 0.48% or 112.34 points lower at 23,481 and Dow Jones fell 0.43% or 207 points to 48,505.
Indian Investors and the US Market
For Indian investors, the performance of the US stock market is crucial as many Indian companies have listings in the US. Moreover, the US market trends often have a ripple effect on the Indian stock market. To stay updated on the Indian stock market, visit our page on Indian stock market news. You can also learn more about how to invest in the US stock market from India.
Tesla and Nvidia Stock Performance
In early trade, shares of Nvidia and Tesla Inc. traded 2.20% and 1.80% lower at $187 and $466.64, respectively. The rest of the magnificent seven stocks traded lower with Apple Inc. down 0.10% at $273.13, Google-parent Alphabet Inc. down 0.70% at $311.27, Meta Platforms declining 0.20% to $666.08, Microsoft Corp. slipping 0.12% to $487.24, and Amazon.com Inc. trading 0.28% lower at $231.89.
Other Tech Stocks and Sectoral Indices
Other tech stocks such as Palantir Technologies, AMD and Dell also traded in the red. After the US markets opened, six out of the 11 sectoral indices traded in red. The decline was led by the information technology and materials sectors, while energy and utilities led the gains. For more information on sectoral indices in the Indian stock market, visit our website.
Commodities and Currency Market
Spot gold was trading nearly 5% higher at $4,354 an ounce. In the crude basket, the West Texas Intermediate futures traded 2.49% higher at $58.15 a barrel, whereas Brent crude traded 2.21% higher at $61.55 a barrel. The Bloomberg Dollar Spot Index was little changed. The euro was also unchanged at $1.1779. Similarly, the British pound saw muted movement at $1.3497, while the Japanese yen rose 0.3% to 156.14 per dollar. Learn more about the currency market in India and its impact on investments.
Cryptocurrency Market
Bitcoin, the largest traded cryptocurrency, fell 0.2% to $87,370.67. For the latest updates on the cryptocurrency market in India, follow our news section.
Conclusion
In conclusion, the US stock market’s performance has a significant impact on the Indian stock market and investor sentiment. Indian investors should stay updated on the latest market trends and news to make informed investment decisions. Visit our website for more information on Indian stock market tips and analysis.