Wall Street today: US stocks edge higher in truncated session, Broadcom up 1.3%, Nvidia adds 1.2% | Stock Market News
Source: Live Mint
US stock indices edged higher on Tuesday in a truncated trading session ahead of Christmas, led by gains in Big Tech shares.
At 09:42 am the Dow Jones Industrial Average rose 32.38 points, or 0.08 per cent, to 42,939.33, the S&P 500 gained 21.68 points, or 0.36 per cent, to 5,995.75, and the Nasdaq Composite gained 116.55 points, or 0.59 per cent, to 19,881.43.
US markets will close at 1 pm Eastern and stay closed Wednesday for Christmas.
Market participants are hoping for a historic strong period called the “Santa Claus rally”, a phenomenon in which markets rise on last five days of December and first two days of January.
Among tech stocks, Broadcom and Nvidia advanced 1.3 per cent and 1.2 per cent, respectively.
American Airlines stock fell 1.9 per cent after the carrier briefly grounded all its flights in the United States due to a technical issue.
NeueHealth stock soared 64 per cent after the company said its largest shareholder New Enterprise Associates and a group of existing investors will take the firm private in a $1.3 billion deal.
US Steel stock lost 0.5 per cent a day after a government panel failed to reach consensus on the possible national security risks of the nearly $15 billion proposed sale to Japan’s Nippon Steel.
In the bond market, the yield on the 10-year Treasury rose to 4.62 per cent from 4.59 per cent late on Monday.
Crude oil
Oil prices rose on Tuesday, buoyed by a slightly positive market outlook for the short term.
Brent crude futures were up 74 cents, or 1 per cent, at $73.37 a barrel, and US West Texas Intermediate crude futures also rose 74 cents, or 1.1 per cent, to $69.98 a barrel by 1400 GMT.
Bullion
Gold prices were flat on Tuesday as investors looked ahead to the US Federal Reserve’s interest rate strategy next year.
Spot gold was little changed at $2,616.31 per ounce, as of 9:27 am ET (1426 GMT). US gold futures were steady at $2,631.60.
Spot silver was unchanged at $29.66 per ounce.
