Upwards on the New York Stock Exchange

The leading indexes on Wall Street were traded upwards on Tuesday – with tech giants as locomotives – after gloomy faces on Monday.

» Published: October 08 2024

Upwards on the New York Stock Exchange
Photo: Peter Morgan/AP/TT

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Broad S&P 500 index rose 1.0 percent, Nasdaq's composite index was up 1.5 percent, while the Dow Jones industrial index rose 0.3 percent.

Among individual companies, a clear increase was noted for several major technology companies. Chip manufacturer Nvidia rose 4.1 percent, electric car giant Tesla up 1.6 percent, and Apple up 1.9 percent.

It went badly for several Chinese companies also listed on the New York Stock Exchange, following the lack of announcements from Chinese authorities on stimulus measures.

Alibaba fell 8.8 percent, and electric car company Nio sank 8.1 percent.

Energy companies also fell across the board. Energy giants Exxon Mobil and Chevron lost 1.6 and 2.6 percent.

Investors are simultaneously looking ahead to Thursday's inflation figures from the American side, which can be a guide when it comes to interest rate cuts from the Federal Reserve.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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