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US Stock Market Today: Wall Street on Tuesday (local time) settled on a higher note, with the Nasdaq Composite rising over 1 per cent, supported by a revival in chip stocks. Investors' attention will now be on earnings reports from various companies, along with developments related to US tariffs on Canada and the ongoing turmoil in the Middle East.
The tech-heavy Nasdaq Composite jumped 1.3 per cent to settle at 25,837.21. The Dow Jones Industrial Average rose more than 0.7 per cent to 52,224.64, while the S&P 500 gained 0.9 per cent.
Among technology stocks, Nvidia climbed nearly 2 per cent after the AI chipmaker revealed it has taken a stake in neocloud provider Nebius. However, investors' attention in Wednesday's trading session will be on earnings from Big Tech players Alphabet and Nvidia.
Tariff concerns remain in focus
Optimism in technology stocks outweighed US President Donald Trump's move to impose a new raft of 50 per cent tariffs on an array of Canadian goods, including beer, hockey sticks, milk and chemicals, risking a tit-for-tat trade war between the two countries.
The tariffs are expected to take effect in 30 days after the US accused Canada of "discrimination" in its trading practices.
Asian markets trade higher
The positive session in the US market was also reflected in Asian markets, with South Korea's KOSPI and Japan's Nikkei 225 trading higher.
As of 5:30 am IST, the Nikkei 225 was up 1.7 per cent at 67,365, while the KOSPI had gained over 5 per cent to trade at 7,103.32.
Positive cues from other Asian markets boosted investor sentiment and provided supportive momentum to Indian equities.
GIFT Nifty signals positive start
While GIFT Nifty was not trading at the time of writing this report, it had settled 0.25 per cent, or 60 points, lower at 24,109 in the previous session. GIFT Nifty acts as an early indicator of market sentiment, and the rise suggests a slightly positive start for Indian equities.
Indian markets end marginally lower
Indian benchmark equity indices closed marginally lower on Tuesday, dragged by selling in HDFC Bank for the second consecutive day as investors remained cautious amid geopolitical uncertainties and booked profits following the recent market rally.
Extending losses for a second day, the 30-share BSE Sensex fell 238.41 points, or 0.31 per cent, to close at 77,470.11, with nine of its constituents ending lower and 21 advancing.
The 50-share NSE Nifty declined 50.80 points, or 0.21 per cent, to settle at 24,187.70.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
English (US) ·