Indexes Recover from Back-to-Back Losses


U.S. stocks rose slightly Tuesday, as investors tried to resume the rally that took equities to record highs after a decline in the previous session.

The Dow Jones Industrials gained 87.93 points to 39,401.57.

The S&P 500 index recovered 12.69 points to 5,230.88.

The NASDAQ gained 47.53 points to 16,432.

Tuesday’s moves higher were led by shares of McCormick, up 10% following a fiscal first-quarter beat. Shares of Seagate Technology rose 11% after an upgrade to overweight at Morgan Stanley, while Krispy Kreme rallied 29% after the donut retailer announced it would expand its partnership with McDonald’s. Tesla stock was up 6% in an amazing turnaround for the electric vehicle manufacturer that has so far floundered this year.

Economic data released Tuesday showed orders for long-lasting goods in the U.S. rose by 1.4% in February, exceeding the 0.8% StreetAccount consensus.

On the other hand, March’s consumer confidence index came in lower than what economists had expected, indicating waning optimism in the U.S. economy.

Still, the major averages are on pace for their fifth straight winning month. The broad market index is up more than 2% in March. The NASDAQ Composite is toting a 1.8% advance for the period, while the Dow is up 0.8%.

Prices for the 10-year Treasury fell a bit, raising yields to 4.26% from Monday’s 4.25%. Treasury prices and yields move in opposite directions.

Oil prices dipped eight cents to $81.87 U.S. a barrel.

Gold prices subtracted 50 cents to $2,197.70.



Source link

About The Author

Scroll to Top