𝗨𝗦 𝗦𝘁𝗼𝗰𝗸𝘀 𝗥𝗲𝗮𝗰𝗵 𝗥𝗲𝗰𝗼𝗿𝗱 𝗟𝗲𝘃𝗲𝗹𝘀 𝗔𝘀 𝗢𝗶𝗹 𝗣𝗿𝗶𝗰𝗲𝘀 𝗗𝗿𝗼𝗽
The Dow Jones Industrial Average hit an intraday all-time high during Tuesday trading. The index rose 360.77 points or 0.70 per cent to 52,031.80.
Market Performance:
- Dow Jones: 52,031.80
- S&P 500: 7,561.78
- Nasdaq Composite: 26,719.01
- Brent crude: $80.20 per barrel
Oil prices dropped 3.6 per cent. A tentative agreement between the United States and Iran aims to reopen the Strait of Hormuz. This agreement affects energy shipping routes.
SpaceX News:
- Shares rose between 7 and 9.5 per cent.
- Market value surpassed Amazon.
- SpaceX is now the fifth-most valuable US-listed company.
- The company plans to buy Anysphere for $60 billion to enter the artificial intelligence market.
Sector Gains:
- Financial stocks rose 1.1 per cent.
- JPMorgan Chase rose 1.8 per cent.
- Bank of America rose 1.2 per cent.
- Goldman Sachs rose 1.3 per cent.
- Western Digital rose 9 per cent.
- Seagate Technology rose 6 per cent.
- Qualcomm rose 3.6 per cent following reports of talks to buy Tenstorrent.
Federal Reserve Outlook:
- Investors await the policy decision on Wednesday.
- This is the first decision under Fed Chair Kevin Warsh.
- Markets expect interest rates to stay at 3.50-3.75 per cent.
- The 10-year Treasury yield fell to 4.45 per cent.