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US Stocks Close Higher as Tech Shares Lead Gains
(MENAFN) US stocks ended higher on Wednesday, led by strong performances in the technology sector, as stated by reports.
The Dow Jones Industrial Average climbed 0.63%, or 307.65 points, to close at 49,482.15. The Nasdaq rose 1.26%, or 288.40 points, to 23,152.08, while the S&P 500 added 0.81%, or 56.06 points, finishing at 6,946.13. The Volatility Index (VIX), often called the "fear index," dropped 8.29% to 17.93.
Investors focused on sustained tech sector gains following strong performance in the prior session. Shares of Nvidia rose 1.4% ahead of its earnings report, set to be released after the closing bell along with quarterly results from software giants Salesforce and Snowflake. Oracle led software gains with a 1.2% increase, while AI-focused companies including Palantir Technologies and Microsoft also advanced.
Market watchers also remained attentive to rising US-Iran tensions. Over the weekend, US President Donald Trump threatened to raise global tariffs to 15%, following the 10% levy on imports from all countries that took effect Tuesday. In his State of the Union address, Trump highlighted the US economy’s strength, proposed government-backed retirement accounts for workers, and reiterated his call to prevent large institutional investors from buying single-family homes.
The Dow Jones Industrial Average climbed 0.63%, or 307.65 points, to close at 49,482.15. The Nasdaq rose 1.26%, or 288.40 points, to 23,152.08, while the S&P 500 added 0.81%, or 56.06 points, finishing at 6,946.13. The Volatility Index (VIX), often called the "fear index," dropped 8.29% to 17.93.
Investors focused on sustained tech sector gains following strong performance in the prior session. Shares of Nvidia rose 1.4% ahead of its earnings report, set to be released after the closing bell along with quarterly results from software giants Salesforce and Snowflake. Oracle led software gains with a 1.2% increase, while AI-focused companies including Palantir Technologies and Microsoft also advanced.
Market watchers also remained attentive to rising US-Iran tensions. Over the weekend, US President Donald Trump threatened to raise global tariffs to 15%, following the 10% levy on imports from all countries that took effect Tuesday. In his State of the Union address, Trump highlighted the US economy’s strength, proposed government-backed retirement accounts for workers, and reiterated his call to prevent large institutional investors from buying single-family homes.
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