Dow and S&P 500 close at an all-time high

Dow and S&P 500 close at an all-time high

FPJ Web DeskUpdated: Tuesday, April 06, 2021, 09:10 AM IST
article-image
Dow and S&P 500 close at an all-time high/ Representational Image | Image by Alexander Naumann from Pixabay

Dow and S&P 500 closed at record levels on Monday, after improvement in various part of the US economy. According to Reuters, the surge in the market was backed by strong economic data and investors’ optimism, in addition to the muted rise in the 10-year US Treasury yield.

In March, an ISM survey showed a jump in the US services industry. Moreover, the data showed that US nonfarm payrolls were up by 9,16,000 jobs in March.

Sectors like energy, financials and materials are among the sectors that are performing well.

The Dow Jones Industrial Average rose 373.98 points, or 1.13 per cent, to 33,527.19 points; the S&P 500 was up by 58.04 points, or 1.44 per cent, to 4,077.91 points and the Nasdaq Composites saw a rise of 225.49 points, or 1.67 per cent, to 13,705.59 points.

Due to the massive infrastructure plan, followed by speedy vaccination roll-out, with corporate earning season round the corner, the US stock market accounted for all this which also pushed the market upwards.

However, the tech-heavy Nasdaq is still about 3 per cent below its February high. Volume on US exchanges was 10.05 billion shares, compared with the 12.62 billion average for the full session over the last 20 trading days.

RECENT STORIES

Piyush Goyal Urges Industries To Amp Up Manufacturing, Diversify Supply Chains & Cut Import...

Piyush Goyal Urges Industries To Amp Up Manufacturing, Diversify Supply Chains & Cut Import...

Reliance Jio Network Down In Mumbai And Other Cities, Users Report No Signal

Reliance Jio Network Down In Mumbai And Other Cities, Users Report No Signal

Adani Enterprises Announces ₹1,000 Crore NCD Issue Offering Up To 9.3%

Adani Enterprises Announces ₹1,000 Crore NCD Issue Offering Up To 9.3%

Gaja Capital Plans IPO, Files Draft Papers With Sebi

Gaja Capital Plans IPO, Files Draft Papers With Sebi

At BRICS Meet, FM Nirmala Sitharaman Holds Bilateral Talks With China, Russia, Brazil, And Indonesia

At BRICS Meet, FM Nirmala Sitharaman Holds Bilateral Talks With China, Russia, Brazil, And Indonesia