EUR/USD 1.14398
0.557%
Gold 4121.14
2.235%
Oil 68.084
0.085%
USD/JPY 160.968
-0.992%
GBP/USD 1.33554
0.611%
GBP/JPY 214.982
-0.376%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Morgan Stanley (MS.N) will match a $1,000 donation to Trump accounts opened for employees children.Caterpillar (CAT.N): The company launched a workforce development program in Texas as part of its five-year, $100 million plan. The initial allocation is up to $5 million for workforce training in Texas.On July 2nd, Evercore ISI stated, "Employment data has returned to normal, and the Fed will remain focused on inflation." Economists believe the Fed will view the weak June employment data as a return to normal levels after several months of unexpectedly strong hiring growth. They stated, "Some believe this report significantly reduces the likelihood of a rate hike this year. We dont entirely agree with that view." Santander analyst Stephen Stanley echoed this sentiment. He stated, "Inflation data will determine the Feds course of action." He believes the June employment report may "slightly" alter the views of Fed officials, but he expects most policymakers to still view the labor market as stable. "There has been a considerable overreaction in financial markets, including downgrading the likelihood of a rate hike this year. I think the latter is an inappropriate reaction to this report."July 2nd - A source familiar with the matter stated that Kuwaits crude oil production rose to 1.65 million barrels per day in June, far exceeding the May average of 578,000 barrels per day. The source added that in the last 10 days of June, daily production reached as high as 1.9 million barrels.On Thursday, July 2nd, the German DAX 30 index closed up 529.08 points, or 2.11%, at 25,598.19; the UK FTSE 100 index closed up 181.73 points, or 1.73%, at 10,660.07; the French CAC 40 index closed up 137.57 points, or 1.65%, at 8,474.86; the Euro Stoxx 50 index closed up 84.55 points, or 1.35%, at 6,367.05; the Spanish IBEX 35 index closed up 277.54 points, or 1.43%, at 19,684.14; and the Italian FTSE MIB index closed up 847.94 points, or 1.64%, at 52,452.50.

As Chipmakers Climb, Wall Street Begins Its Uptrend, Driven by Nasdaq

Skylar Shaw

Mar 31, 2022 11:34

(Reuters) – NEW YORK On Thursday, major U.S. stock indexes rose more than 1%, extending the market's recent rally, as investors bought beaten-down shares of chipmakers and strong growth companies and oil prices fell.


The shares of Nvidia Corp. rose 9.8%, driving a rise in the chip sector and reaching its highest level since mid-January. Intel Corp rose 6.9%, helping the S&P 500 and the Nasdaq to gain ground.


The Philadelphia SE semiconductor index.SOX rose 5.1 percent, its highest daily percentage rise since Feb. 15, but it is still down around 10% for the year. After being battered earlier this month, Apple shares are up for the eighth day in a row.


Six of the last eight days have seen the three major indexes rally, with all three rebounding after the S&P 500 and Dow both confirmed that they are in corrections, while the Nasdaq confirmed that it is in a bear market.


"The bear market was the best time to invest," said Jake Dollarhide, CEO of Tulsa, Oklahoma-based Longbow Asset Management, which manages roughly $50 million in assets. "At long last, people realized this is an excellent place to start."


He stated, "For the first time in a long time, they are recognizing greater value in technology."

After a big rise on Wednesday, oil prices have dropped. 


The number of Americans submitting new unemployment claims fell to a 52-1/2-year low last week, but unemployment rolls continued to fall, according to previous data.


The Dow Jones Industrial Average increased 349.44 points, or 1.02 percent, to 34,707.94, the S&P 500 increased 63.92 points, or 1.43 percent, to 4,520.16, and the Nasdaq Composite increased 269.24 points, or 1.93 percent, to 14,191.84.


The next steps in the Ukraine-Russia situation were closely monitored by investors. Western countries have decided to boost military aid to Ukraine while tightening sanctions on Russia, whose invasion of its neighbor has now reached its second month.


Uber Technologies Inc rose 5% after the ride-hailing company announced that it had achieved an agreement to list all cabs in New York City on its app.


The volume on US exchanges was relatively low, with 11.03 billion shares, compared to the 14.3 billion average for the prior 20 trading days.


On the New York Stock Exchange, advancers outweighed decliners 1.96 to 1; on the Nasdaq, advancers outnumbered decliners 2.03 to 1.


The S&P 500 index saw 29 new 52-week highs and four new lows, while the Nasdaq Composite saw 58 new highs and 60 new lows.


Suggestion