Tesla, Apple rise pushes US stock market higher ahead of Fed meeting
(MENAFN) The US stock market witnessed a positive close yesterday, buoyed by significant gains in Tesla and Apple stocks, while investors kept a close eye on developments leading up to the Federal Reserve's monetary policy meeting. Tesla shares surged following reports of progress in obtaining approvals for an advanced program aimed at aiding drivers of its electric vehicles in China, the company's second-largest market. Similarly, Apple shares experienced an uptick after news surfaced of resumed discussions between the tech giant and OpenAI regarding the potential utilization of the latter's generative artificial intelligence technology.
Preliminary data reveals that the Standard & Poor's 500 index climbed by 0.32 percent, or 16.34 points, concluding at 5,116.30 points. Meanwhile, the Nasdaq Composite index saw a rise of 0.36 percent, or 57.14 points, reaching 15,985.04 points, and the Dow Jones Industrial Average increased by 0.40 percent, or 151.63 points, settling at 38,391.29 points. Amidst these gains, gold futures prices experienced fluctuations throughout the trading session before ultimately rising towards the close.
As market participants eagerly awaited the Federal Reserve's decision on interest rates, attention also turned towards forthcoming data releases, notably the report on non-agricultural job sectors in the United States scheduled for publication later in the week. With these significant events on the horizon, traders remained cautious, refraining from making substantial market moves and opting to observe developments closely.
Preliminary data reveals that the Standard & Poor's 500 index climbed by 0.32 percent, or 16.34 points, concluding at 5,116.30 points. Meanwhile, the Nasdaq Composite index saw a rise of 0.36 percent, or 57.14 points, reaching 15,985.04 points, and the Dow Jones Industrial Average increased by 0.40 percent, or 151.63 points, settling at 38,391.29 points. Amidst these gains, gold futures prices experienced fluctuations throughout the trading session before ultimately rising towards the close.
As market participants eagerly awaited the Federal Reserve's decision on interest rates, attention also turned towards forthcoming data releases, notably the report on non-agricultural job sectors in the United States scheduled for publication later in the week. With these significant events on the horizon, traders remained cautious, refraining from making substantial market moves and opting to observe developments closely.
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