ET Net News Agency reported on the 21st: U.S. stocks traded mixed on Tuesday (20th), with the Dow rising over 500 points. Positive corporate earnings and a pullback in oil prices from more than five-month highs boosted market sentiment. SpaceX (US.SPCX) reported third-quarter revenue rose 161% year-on-year to $14.575 billion, exceeding expectations. Musk announced that SpaceX and Tesla have formed a special committee to explore a merger, with SpaceX shares surging over 8% in after-hours trading and Tesla shares rising over 1%.
The Dow had risen over 700 points intraday, maintaining its upward momentum, closing 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 in the session 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 have helped improve profit margins.
Healthcare stocks also performed strongly, with Lilly (US.LLY), UnitedHealth (US.UNH), and Merck (US.MRK) supporting the broader market, all rising over 3%.
In contrast, large-cap tech stocks showed mixed performance. Investors remain uncertain about massive capital expenditures, financing costs for AI-related firms, and whether investments can translate into sustainable profits. Nvidia (US.NVDA) fell 0.3%, Meta (US.META) dropped 1.6%, Apple (US.AAPL) declined 1%, Microsoft (US.MSFT) fell 0.3%, Google (US.GOOG) dropped 1.1%, while Amazon (US.AMZN) rose 0.1%.
*Oil prices retreat, U.S. dollar index falls*
Regarding oil prices, Brent crude rose to around $112 per barrel earlier in the session but then retreated, closing down 0.02% at $109.52 per barrel. NYMEX crude fell 0.5% to $97.95 per barrel.
In the foreign exchange market, the U.S. dollar index fell 0.2% to 101.71. The dollar-yen pair pulled back after rising to 158.6 earlier, 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 had risen over 700 points intraday, maintaining its upward momentum, closing 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 in the session 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 have helped improve profit margins.
Healthcare stocks also performed strongly, with Lilly (US.LLY), UnitedHealth (US.UNH), and Merck (US.MRK) supporting the broader market, all rising over 3%.
In contrast, large-cap tech stocks showed mixed performance. Investors remain uncertain about massive capital expenditures, financing costs for AI-related firms, and whether investments can translate into sustainable profits. Nvidia (US.NVDA) fell 0.3%, Meta (US.META) dropped 1.6%, Apple (US.AAPL) declined 1%, Microsoft (US.MSFT) fell 0.3%, Google (US.GOOG) dropped 1.1%, while Amazon (US.AMZN) rose 0.1%.
*Oil prices retreat, U.S. dollar index falls*
Regarding oil prices, Brent crude rose to around $112 per barrel earlier in the session but then retreated, closing down 0.02% at $109.52 per barrel. NYMEX crude fell 0.5% to $97.95 per barrel.
In the foreign exchange market, the U.S. dollar index fell 0.2% to 101.71. The dollar-yen pair pulled back after rising to 158.6 earlier, 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)
