Wall Street today: US stocks drift, Tesla leads Nasdaq higher

At 9:39 a.m. ET, the Dow Jones Industrial Average was down 33.34 points, or 0.09 per cent, at 38,470.35, the S&P 500 was up 14.60 points, or 0.29 per cent, at 5,085.15, and the Nasdaq Composite was up 127.90 points, or 0.81 per cent, at 15,824.54.

At the opening bell, the Dow Jones Industrial Average rose 49.1 points, or 0.13 per cent, to 38,552.79. The S&P 500 rose 14.3 points, or 0.28 per cent, to 5,084.86, while the Nasdaq Composite rose 109.0 points, or 0.69 per cent, to 15,805.601. 

ALSO READ: Tesla Q1 net profit drops 55% to $1.13 billion, revenue falls 9% YoY

Tesla shares jumped 9.7 per cent after the electric vehicle maker forecast that sales would rise in 2024.

Tesla also said that it would roll out more affordable models in early 2025. 

Shares of Microsoft and Nvidia rose 0.8 per cent and 1.6 per cent, respectively. 

Visa surged 2.4 per cent after the payments processing giant beat Wall Street estimates for the second quarter results.

Drugmaker Biogen gained 3.7 per cent on first quarter earnings beat expectations. 

Boston Scientific rose 6.1 per cent after the medical device maker raised its annual profit forecast. Wabtec advanced 10.8 per cent after the heavy industrial parts maker raised its full-year profit forecast. 

ALSO READ: Gold hits over two-week low despite touching record highs in 2024; What’s hurting the yellow metal’s appeal?

Shares of Meta Platforms and Snap gained 1.8 per cent and 0.6 per cent, respectively, after the US Senate passed a bill that would ban TikTok if its owner ByteDance failed to divest the app.

The yield on the 10-year Treasury rose to 4.63 per cent from 4.60 per cent late on Tuesday.

Crude oil

Crude oil aprices were steady around $88 a barrel on Wednesday.

Brent crude futures were down 35 cents, or 0.4 per cent, to $88.07 a barrel by 1315 GMT, while US West Texas Intermediate crude futures had lost 47 cents, or 0.6 per cent, to $82.89.

Bullion 

Gold prices eased on Wednesday. Spot gold lost 0.1 per cent to $2,318.50 per ounce by 9:20 a.m. ET (1320 GMT). US gold futures fell 0.2 per cent at $2,336.50.

Spot silver dipped 0.3 per cent to $27.20.

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Published: 24 Apr 2024, 07:28 PM IST