US Stock Market Today: S&P 500, Nasdaq Rise As Tech Stocks Zoom
The main US stock market indices rose in early trade, lifted by a jump in key tech stocks in early trade.
The wider index, S&P 500, was up 0.44% or 29.76 points at 6,864 at 9:34 am (EST), whereas the tech-heavy Nasdaq Composite jumped 0.54% or 116.42 points to 23,424.05. The Dow Jones Industrial Average rose 0.26% or 123.78 points to 48,258.67.
Top Gainers: Nvidia, Micron, and Oracle
AI hot-bet Nvidia rose 1.22% to $183.2 apiece, Micron Technology was up nearly 3% at $273.74, and Oracle climbed 1.08% to $194.04 at 9:49 am.
Among the Mag7 stocks, Google-parent Alphabet and Amazon were flat, whereas Microsoft’s scrip edged 0.3% lower. Tesla’s stock, however, continued to accelerate, rising 3.4%.
Warner Bros. and Paramount Deal
Warner Bros. was also among the key gainers, trading 3.3% higher at $28.68 per share at 9:55 am. Before trading commenced, it was reported that Paramount’s bid to acquire the company will be personally backed by Oracle’s Larry Ellison with a $40-billion pledge.
Market Trends and Analysis
After the Wall Street opened, the Bloomberg Dollar Spot Index fell by 0.4%, and the 10-year Treasury yield advanced by one basis point to 4.16%.
In the commodities market, US spot gold was trading 1.9% higher at $4,420.65 an ounce, whereas spot silver was up 2.7% at $68.97. Within the crude basket, Brent futures were trading 2.12% higher at $61.75 a barrel, and the US West Texas Intermediate futures were up 2.25% at $57.79.
Bitcoin, the largest-traded cryptocurrency, reclaimed the $90,000-mark on Monday. The token was trading 1.66% higher at 90,102.97 at 10:03 am.
Impact on Indian Markets
Indian investors can stay updated on the latest market trends and news by visiting our website and reading articles on stock market news and investing strategies.
Notably, the Wall Street will be keeping its gaze fixed on a likely year-end Santa rally. The trading week is holiday-shortened, as the markets will remain shut on Thursday on the occasion of Christmas.
Conclusion
In conclusion, the US stock market indices rose in early trade, lifted by a jump in key tech stocks. Indian investors can stay informed about the latest market trends and news by visiting our website and reading articles on Indian stock market and Nifty and Sensex.