The key indices on Wall Street ended the day with gains on Tuesday. The S&P 500 ended at 4,774.75 points and thus missed the closing time record of 4,796.56 points.
According to Reuters, Tuesday’s rise on the stock exchanges in the United States came after falling interest rates have contributed to a more positive sentiment.
After central bank chief Jerome Powell’s rather dutiful press conference before Christmas, investors have become increasingly convinced that interest rates have peaked and that there will soon be interest rate cuts from the US central bank. In total, the market is pricing in at least six interest rate cuts in the US over the next year.
At closing time on Wall Street, the indices ended as follows:
- The broad S&P 500 index ended up 0.42 percent.
- Industry-heavy Dow Jones ended the day up 0.43 percent.
- The technology index Nasdaq Composite ended up 0.54 percent.
Today’s movements
Earlier this year, it was announced that Apple could be denied sales of the company’s Apple Watch in the US due to a patent dispute with the health equipment manufacturer Masimo. Earlier today reported Reuters that Joe Biden’s administration has chosen not to veto the US authorities’ decision to introduce an import ban. The Apple share ended down 0.3 percent during the day.
In pre-trade, the Manchester United share was up 13 per cent, but when the stock exchanges opened things calmed down and the share ended the day with a rise of 3.5 per cent. The price jump came after it became known that the British billionaire Jim Ratcliffe is buying a quarter of the football club for 1.3 billion dollars. He pays 33 dollars per share, against a closing price of $19.80 before Christmas.
2023-12-26 21:02:53
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