Stock Market Today: Wall Street Edges Higher in Early Trading
Stock Market Today: Wall Street Edges Higher in Early Trading
NEW YORK — Wall Street’s superstar, Nvidia, is on the brink of setting another record, which is why U.S. equities are trending upward. The S&P 500 experienced a 0.4% increase in early trading on Tuesday. The index is poised to post its third consecutive gain following a five-day decline that marked the transition to the new year. The Dow Jones Industrial Average increased by 180 points or 0.4%. The Nasdaq composite experienced a 0.3% increase. Nvidia experienced a rise in value after the CEO announced a series of new products and partnerships during a keynote address at a significant electronics conference the previous evening. Shutterstock and Getty experienced a substantial increase in value after announcing that they would merge to form a $3.7 billion visual content company.
This is a breaking news update. The Associated Press’s previous report is provided below.Amidst a flurry of corporate news during a week when Washington is releasing critical economic data, Wall Street inched modestly higher in premarket trading Tuesday.Before the bell, the S&P 500 futures were only up 0.1%, while the Dow Jones Industrials Average futures were up approximately 0.2%.Shutterstock and Getty Images’ shares both increased significantly following their announcement that they would merge to form a $3.7 billion visual content company. This entity will offer a more comprehensive media selection, including still imagery, video, music, and 3D.
Meta Platforms’ shares remained essentially unaltered following the appointment of three new directors to its board by Facebook’s owner. Among the new directors is Dana White, the president and CEO of Ultimate Fighting Championship and a prominent figure in the circle of incoming President Donald Trump.In a Facebook post published late Monday, Meta CEO Mark Zuckerberg announced that the social media company also incorporates auto tycoon John Elkann and tech investor Charlie Songhurst.
After the U.S. Defence Department included dozens of Chinese companies in a list of entities that it alleges have ties to China’s military, shares of some of these companies declined. The announcement prompted a number of companies to protest and declare that they would pursue a reversal of the decision.The list was expanded to include Tencent, an entertainment and technology company; SenseTime, an artificial intelligence firm; and CATL, the world’s largest battery manufacturer. On Tuesday, Tencent shares traded in Hong Kong experienced a 7.3% decline, while those of CATL experienced a nearly 3% decline.
At midday in Europe, the CAC 40 in France increased by 0.8%, the DAX in Germany increased by 0.4%, and the FTSE 100 in Britain decreased by 0.2%.
In Asia, the Nikkei 225, Japan’s benchmark index, rose by nearly 2.0% to close at 40,083.30. The S&P/ASX 200 in Australia increased by 0.3% to 8,285.10, while the Kospi in South Korea increased by 0.1% to 2,492.10. The Hang Seng index in Hong Kong experienced a 1.2% decline to 19,447.58 due to the 7.3% decline in shares of Tencent, a technology and gaming company, following the imposition of U.S. sanctions.The Shanghai Composite increased by 0.7% to 3,229.64.Stephen Innes, managing partner at SPI Asset Management, stated that investors also monitor potential policy changes under the incoming President Donald Trump, whose term commences shortly.
“The convergence of these financial indicators suggests that traders are on high alert, as they meticulously adjust their strategies to account for potential changes in economic directives and policy that the new administration may introduce,” he stated.Despite concerns that the stock prices of Nvidia and other AI stocks have risen excessively, they have continued to increase in recent months.
The New York Stock Exchange and Nasdaq will halt their stock and options markets on Thursday in commemoration of a National Day of Mourning for former President Jimmy Carter.
However, the Federal Reserve will release minutes from its most recent policy meeting later this week, which saw the institution reduce its primary interest rate for the third consecutive time. This event has the potential to impact the market significantly.
Friday will feature the monthly employment report and an update on consumer sentiment. The economy has demonstrated remarkable resilience thus far. The Fed began cutting interest rates in September after inflation dropped nearly all the way to its 2% target.It may be more challenging to achieve the final percentage point of improvement from inflation. Worries are also rising that tariffs and other policies coming from President-elect Donald Trump could push inflation higher.
Delta Air Lines and Walgreens Boots Alliance report their latest financial results on Friday.In energy trading, benchmark U.S. crude gained 46 cents to $74.02 a barrel. Brent crude, the international standard, rose 63 cents to $76.93 a barrel.The U.S. dollar rose to 157.73 Japanese yen from 157.65 yen. The euro was essentially unchanged at $1.0390.
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