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Business News/ Markets / Stock Markets/  World markets today: US stocks gain on strong earnings, S&P 500 hits fresh record high
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World markets today: US stocks gain on strong earnings, S&P 500 hits fresh record high

At 9:51 a.m. ET, the Dow Jones was up 0.26 per cent, the S&P 500 was up 0.44 per cent, the Nasdaq was up 0.45 per cent

The yield on the 10-year Treasury was steady at 4.09 per cent. REUTERSPremium
The yield on the 10-year Treasury was steady at 4.09 per cent. REUTERS

US stock indices gained on Wednesday on strong corporate earnings, led by megacap and chip shares. The benchmark S&P 500 rose to a fresh record high.

At 9:51 a.m. ET, the Dow Jones Industrial Average was up 98.72 points, or 0.26 per cent, at 38,620.08, the S&P 500 was up 21.59 points, or 0.44 per cent, at 4,975.82, and the Nasdaq Composite was up 70.17 points, or 0.45 per cent, at 15,679.17.

Shares of Ford Motor jumped 4.5 per cent, as the automaker raised first-quarter dividend. General Motors rose 1.7 per cent.

Snapchat owner Snap slumped 32 per cent after missing quarterly revenue estimates

Cybersecurity firm Fortinet jumped 3.3 per cent on better than expected fourth quarter profit.

US-listed shares of Alibaba Group Holding were lower 3.9 per cent following downbeat quarterly revenue. 

At the opening bell, the Dow Jones Industrial Average rose 92.53 points, or 0.24 per cent, to 38,613.89. The S&P 500 was higher by 18.82 points, or 0.38 per cent, at 4,973.05. The Nasdaq Composite gained 81.36 points, or 0.52 per cent, to 15,690.35.

The yield on the 10-year Treasury was steady at 4.09 per cent.

European shares dropped as investors digested a mixed bag of corporate earnings.

Britain’s FTSE 100 was down 0.5 per cent at 7,642.54. France’s CAC 40 lost 0.2 per cent at 7,623.72. Germany’s DAX fell 0.5 per cent at 16,946.56.

In Asia, Hong Kong’s Hang Seng Index fell 0.3 per cent to end at 16,081.89. China's Shanghai Composite added 1.4 per cent at 2,829.70.

Japan’s Nikkei 225 lost 0.1 per cent at 36,119.92.

Crude oil prices rose for a third day on Wednesday after US crude inventories grew less than expected.

Brent crude futures rose 51 cents to $79.10 a barrel as of 1412 GMT, while US West Texas Intermediate crude climbed 57 cents to $73.88. 

Gold prices were mixed on Wednesday. Spot gold was little changed at $2,032.49 per ounce, as of 1213 GMT. US gold futures fell 0.1 per cent to $2,048.50 per ounce. 

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Published: 07 Feb 2024, 08:52 PM IST
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