Previewing the Dow Jones, Nasdaq, and S&P 500: FOMC, NFP, Apple, Microsoft, and Beyond
The trading day on Monday saw a positive uptick in the U.S. stock market, with the Dow Jones Industrial Average climbing by 0.59% to reach a new record high. This surge was driven by notable gains across various sectors, particularly in Consumer Goods, Technology, and Consumer Services.
Among the standout performers within the Dow Jones Industrial Average was Salesforce Inc (NYSE: CRM), which saw a robust increase of 2.83%, reaching a closing price of 287.86. Similarly, the Walt Disney Company (NYSE: DIS) and Visa Inc Class A (NYSE: V) also experienced notable gains, rising by 2.23% and 2.13% respectively.
However, not all stocks shared in the upward momentum, with some notable declines recorded as well. Verizon Communications Inc (NYSE: VZ) and Walgreens Boots Alliance Inc (NASDAQ: WBA) both closed lower by 0.83% and 0.57% respectively. Apple Inc (NASDAQ: AAPL) also experienced a slight dip, down by 0.36%.
Over on the S&P 500 index, Archer-Daniels-Midland Company (NYSE: ADM) led the pack with a 5.55% increase, followed by Carnival Corporation (NYSE: CCL) and Illumina Inc (NASDAQ: ILMN) with gains of 4.55% and 4.33% respectively. Conversely, HP Inc (NYSE: HPQ) and International Paper (NYSE: IP) both saw declines, down by 2.53% and 2.26% respectively.
The NASDAQ Composite index reported significant movements, with Onemednet Corp (NASDAQ: ONMD) rising high with an impressive 168.21%, followed by Palisade Bio Inc (NASDAQ: PALI) and FibroGen Inc (NASDAQ: FGEN) having gains of 83.21% and 82.71% respectively. However, Panbela Therapeutics Inc (NASDAQ: PBLA), Corbus Pharmaceuticals Holding (NASDAQ: CRBP), and Arrival Vault USA Inc (NASDAQ: ARVL) all experienced substantial declines.
Overall, the market sentiments were strong considering the rise of stocks that outperformed those stocks in the fall. The results were available the same, on both the New York Stock Exchange and the Nasdaq Stock Exchange. This bullish sentiment were seen on various indicators, including the CBOE Volatility Index, with an increase of 2.56% to 13.60.
In commodities trading, Gold Futures for April delivery rose by 0.69%, while Crude oil for delivery in March fell by 1.29%, and the April Brent oil contract declined by 1.12%.
Currency markets remained relatively stable, with EUR/USD unchanged at 1.08 and USD/JPY falling by 0.46% to 147.49. The US Dollar Index Futures also saw a marginal increase of 0.04% to 103.28.
Thus, it was a day marked by overall positive performance in the U.S. stock market, driven by gains in various sectors, although there were some notable exceptions with certain stocks experiencing declines.