The Economic Times (ETN) reported on the 21st: U.S. stocks traded mixed on Tuesday (20th), with the Dow rising over 500 points. Improved market sentiment was driven by strong corporate earnings and a retreat in oil prices from their highest levels in over five months. SpaceX (US.SPCX) announced third-quarter revenue surged 161% year-on-year to $14.575 billion, exceeding expectations. Musk also announced that SpaceX and Tesla (US.TSLA) have formed a special committee to study a potential merger, causing SpaceX shares to rise over 8% in after-hours trading, while Tesla rose over 1%.
The Dow rose over 700 points intraday, maintaining gains to close up 529.85 points, or 1.02%, at 52,495.88 points; the S&P 500 rose 21.84 points, or 0.28%, to 7,712.57 points; the Nasdaq was up nearly 160 points earlier but then fluctuated downward, closing slightly lower by 6.07 points, or 0.02%, at 26,424.82 points.
Industrial products manufacturer 3M (US.MMM) performed well, rising 5.8%, becoming one of the main drivers of the Dow's gains. After reporting its third-quarter results, the company raised its full-year adjusted EPS forecast, reflecting that cost controls and price increases are helping to improve profit margins.
Healthcare stocks also performed strongly, with Lilly (US.LLY), UnitedHealth (US.UNH), and Merck (US.MRK) supporting the market, all rising over 3%.
In contrast, large tech stocks showed mixed performance. The market remains uncertain about massive capital expenditures, financing costs for AI-related companies, and whether investments can translate into sustainable profits. Nvidia (US.NVDA) fell 0.3%, Meta (US.META) dropped 1.6%, Apple (US.AAPL) fell 1%, Microsoft (US.MSFT) declined 0.3%, Google (US.GOOG) fell 1.1%, while Amazon (US.AMZN) rose 0.1%.
*Oil prices retreat, U.S. dollar index falls*
Oil prices: Brent crude rose earlier to around $112 per barrel but then retreated, closing down 0.02% at $109.52 per barrel. NYMEX crude fell 0.5% to $97.95 per barrel.
In foreign exchange markets, the U.S. dollar index fell 0.2% to 101.71. The dollar-yen pair retreated after rising earlier to 158.6, closing at 158.21, down 0.1%. The euro-dollar pair rebounded, rising about 0.2% to 1.1235.
International gold prices declined, with spot gold at $4,120 per ounce, down 0.4%; NYMEX gold futures at $4,138 per ounce, down 0.5%. (yc)
The Dow rose over 700 points intraday, maintaining gains to close up 529.85 points, or 1.02%, at 52,495.88 points; the S&P 500 rose 21.84 points, or 0.28%, to 7,712.57 points; the Nasdaq was up nearly 160 points earlier but then fluctuated downward, closing slightly lower by 6.07 points, or 0.02%, at 26,424.82 points.
Industrial products manufacturer 3M (US.MMM) performed well, rising 5.8%, becoming one of the main drivers of the Dow's gains. After reporting its third-quarter results, the company raised its full-year adjusted EPS forecast, reflecting that cost controls and price increases are helping to improve profit margins.
Healthcare stocks also performed strongly, with Lilly (US.LLY), UnitedHealth (US.UNH), and Merck (US.MRK) supporting the market, all rising over 3%.
In contrast, large tech stocks showed mixed performance. The market remains uncertain about massive capital expenditures, financing costs for AI-related companies, and whether investments can translate into sustainable profits. Nvidia (US.NVDA) fell 0.3%, Meta (US.META) dropped 1.6%, Apple (US.AAPL) fell 1%, Microsoft (US.MSFT) declined 0.3%, Google (US.GOOG) fell 1.1%, while Amazon (US.AMZN) rose 0.1%.
*Oil prices retreat, U.S. dollar index falls*
Oil prices: Brent crude rose earlier to around $112 per barrel but then retreated, closing down 0.02% at $109.52 per barrel. NYMEX crude fell 0.5% to $97.95 per barrel.
In foreign exchange markets, the U.S. dollar index fell 0.2% to 101.71. The dollar-yen pair retreated after rising earlier to 158.6, closing at 158.21, down 0.1%. The euro-dollar pair rebounded, rising about 0.2% to 1.1235.
International gold prices declined, with spot gold at $4,120 per ounce, down 0.4%; NYMEX gold futures at $4,138 per ounce, down 0.5%. (yc)
