The stock market rallied yesterday, with the DJI advancing almost 217 points, or 0.84 percent, and finishing at 25963. The broader S&P 500 index had a reasonably powerful session as well, closing 2855 or 1.09 percent, though not as robust as the Nasdaq 100 with 113 points or 1.52 percent, to conclude at 7493.
The small-cap Russell 2000 index was similarly trading well and went into the green territory yesterday, finishing at 1562 or 1.25 percent.
On the corporate front, Apple stock rose another 3.68 percent after Needham promoted the stock’s grade from “buy” to “solid buy.” The shares have been heading in a northerly direction all week long as it has published advance updates to several products in the advancement of its expected news of new news and video services on the March 25th.
Plenty of other high technology stocks joined to support the drive the market much higher, including Micron Technology with additional 9.77 percent gain, NVIDIA with 5.48 percent, Seagate Technology with additional 5.99 percent, and Western Digital adding 9.77 percent, amongst others.
Boeing stock was down almost another whole percentage point yesterday, with the news again revealing both 737 Max aircraft that had two crashes in last several months lacked high-level safety points which aircraft maker made available exclusively for an additional charge.
This never the less is not a healthy showing for the firm. The company declared they would begin to combine this critical safety peculiarity in all new 737 jets transpiring forward, however, the worldwide ban on the 737 Max aircraft is still in place as we speak.
In the overseas market(s) trading across the Asian-Pacific region drifted inherently higher yesterday. With the markets being closed in Japan due to the national holiday, the H.K Hang Seng took the counter route, declining 249 points or 0.85 percent, while China core Shanghai Composite and South Korea Kospi indices both advanced by 0.4 percent on the day.
Meanwhile, the main Eurozone markets set in a mixed showing on the yesterday session. The German DAX30 Index declined 0.5 percent and fished at 11,550, and the French CAC40 Index trimmed down 0.1 percent closing at 5,379, while the U.K. FTSE100 equity average promoted by 0.9 percent to close the day at 7,355.
The bond market along with US Treasuries finished the trading session almost flat after experiencing early on strength. As a consequence, the yield on the benchmark 10-year note, which runs counter of its price, crawled up smaller than a basis point to conclude at 2.537 percent right after tapping a low of 2.50 percent on the session.
Gold dropped $3.0 or 0.25 percent to conclude at $1,309, and Silver rosed $0.03 or 0.16 percent to finish at 15.50 on the session.
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