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<US Mkt>DJIA Closes Rallying 461 Pts; Nvidia Steadies Post Results; Amazon Wanes 2%
Recommend 6 Positive 13 Negative 3 |
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As investors flocked to cyclical stocks expected to benefit from accelerated economic growth, the three major US stock indices opened higher on Thursday and showed varying trends. The DJIA surged throughout the day, closing up 461 points or 1.1% at 43,870. The Nasdaq once fell about 250 points before stabilizing to close up 6 points at 18,972, as the heavyweight stock Nvidia (NVDA.US) experienced a tug-of-war after announcing its quarterly results. The S&P 500 closed inclining 31 points or 0.5% at 5,948. Nvidia's earnings for the last FQ have around doubled, beating expectations, but the company mentioned supply constraints for the Blackwell system. The stock rose in early trading, peaking at US$152.89 with a surge of 4.8%, then dived over 3% at one point, eventually closing up 0.5% at US$146.67. Tech stocks weakened, with Tesla (TSLA.US), Microsoft (MSFT.US), and Apple (AAPL.US) each losing less than 1%. Amazon (AMZN.US) tumbled 2.2%. Bitcoin heavyweight Microstrategy (MSTR.US) was downgraded by research firm Citron. Its stock price retreated 16% from its high. Software company Snowflake (SNOW.US)'s quarterly results exceeded expectations, with its stock soaring 32.7%. Temu's parent company Pinduoduo (PDD.US) reported 3Q24 earnings below expectations due to intensified competition. Its stock price tumbled 10%. AAStocks Financial News |
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