US Market ends higher

5 Apr 2022 , 09:13 AM

The US share market finished session higher on Monday, 04 April 2022, thanks to gains in consumer goods, retailers, and technology related stocks which helped to offset losses elsewhere.

At the close of trade, the Dow Jones Industrial Average index advanced by 103.61 points, or 0.3%, to 34,921.88. The S&P500 index added 36.78 points, or 0.81%, to 4,582.64. The tech-heavy Nasdaq Composite Index was up 271.05 points, or 1.9%, to 14,532.55.

Advancing stocks outnumbered declining ones on the NYSE exchange by 1842 to 1531 and 144 closed unchanged. In the NASDAQ, 3059 issues advanced, 1758 issues declined, and 240 issues unchanged.

Total 7 of 11 major S&P 500 sector indexes declined, with bottom performing sector were utilities (down 0.79%), healthcare (down 0.75%), and financials (down 0.47%), while top performing issues included consumer discretionary (up 2.33%), communication serices (up 2.28%), and information technology(up 1.91%).

Among individual shares, computer peripheral maker Logitech (LOGI) posted a strong gain after Goldman Sachs upgraded its rating on the companys stock to Buy from Neutral.

ECONOMIC NEWS: US Factory Orders Ease 0.5% In February- US factory orders fell by 0.5% in February after surging by an upwardly revised 1.5% in January, a report released by the Commerce Department on Monday showed. The pullback in factory orders came as durable goods orders tumbled by 2.1% in February following a 1.5% spike in January. On the other hand, the report showed orders for non-durable goods shot up by 1.2% in February after jumping by 1.5% in January. The Commerce Department also said shipments of manufactured goods rose by 0.6% in February after surging by 1.4% in January. Inventories of manufactured goods also climbed by 0.6% following a 0.8% increase in the previous month. With inventories and shipments both rising, the inventories-to-shipments ratio for February came in unchanged from the previous month at 1.45.

Among Indian ADR, Dr Reddys Labs added 1.13% to $56.45, INFOSYS added 0.53% to $24.74, Wipro added 0.51% to $7.93, Tata Motors grew 1.61% to $29.69, ICICI Bank added 2.6% to $19.72, and HDFC Bank added 7.55% to $67.67. WNS Holdings sank 0.51% to $88.08 and Azure Power Global dropped 0.63% to $17.37.

Powered by Capital Market – Live News