US Wall Street rises with Nasdaq in lead

11 May 2022 , 09:23 AM

The US stocks were mostly higher in a choppy trading session on Tuesday, 10 May 2022, with the Nasdaq and the S&P 500 settling higher, as investors chased for bargain hunting after the sharp selloff over the three previous sessions. The Dow Jones Industrial Average struggled to find its footing after swinging between gains and losses throughout the session, as traders remain wary about inflation, higher interest rates, and the outlook for the global economy. Also investors were awaited for the highly anticipated April inflation report that will likely signal the extent of the Federal Reserves policy tightening measures for 2022. At the close of trade, the Dow Jones Industrial Average index fell 84.96 points, or 0.26%, to 32,160.74. The S&P500 index rose 9.81 points, or 0.25%, to 4,001.05. The tech-heavy Nasdaq Composite Index added 114.42 points, or 0.98%, to 11,737.67. Declining stocks outnumbered advancing ones on the NYSE exchange by 1957 to 1412 and 112 closed unchanged. In the NASDAQ, 2105 issues advanced, 2808 issues declined, and 214 issues unchanged. Total 7 of 11 major S&P 500 sector indexes declined, with bottom performing issues were real estate (down 2.28%), utilities (down 1.24%), and financials (down 0.8%), while top performing issues included information technology (up 1.6%) and energy (up 0.93%). In company news, Peloton Interactive Inc tumbled about 6% as the fitness equipment maker warned the business was thinly capitalized after it posted a 23.6% slide in quarterly revenue. Among Indian ADR, Wipro advanced 1.47% to $6.22, ICICI Bank added 2.1% to $18.36, and Azure Power Global rose 1.3% to $13.01. Dr Reddys Labs added 1.12% to $50.59, Tata Motors added 0.2% to $25.46, and HDFC Bank grew 6% to $53.73. WNS Holdings fell 1% to $72.43 and INFOSYS sank 0.3% to $19.75. Powered by Capital Market – Live News