The stock market rallied on Tuesday afternoon as rising consumer confidence, declining crude oil prices and new peace talks between Russia and Ukraine sent higher shares.
The Nasdaq composite increased by 1.3% and the S&P 500 gained 0.8% as technology, consumer preferences and real estate led the market. Technology Select Sector SPDR (XLK) increased by 1.2%.
Apple (AAPL) is up 1.2% in big sales, rising above the 176.75 base price base of a double base base. Purchase point to 185.59.
The Dow Jones Industrial Average rose 0.8%. The small cap of Russell 2000 jumped 2.1%. The volume increased in the Nasdaq and NYSE compared to the same period on Monday.
U.S. Stock Market Today Overview | ||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35225.91 | +270.02 | +0.77 |
| S&P 500 | (0S&P5) | 4613.88 | +38.36 | +0.84 |
| Nasdaq | (0NDQC ) | 14549.27 | +194.37 | +1.35 |
| Russell 2000 | (IWM) | 210.49 | +4.30 | +2.09 |
| IBD 50 | (FFTY) | 39.65 | -0.09 | -0.23 |
Last Update: 11:58 AM ET 3/29/2022 | ||||
Consumer Confidence Rises, Yields Fall
Consumer confidence in the US rose for the first time this year as a strong labor market and declining concerns about Covid-19 concerns about rising inflation and the Ukrainian war.
Conference Board Consumer Confidence Index rose to 107.2 in March from the 105.7 update in February. The index is in full compliance with the 107.5 consensus forecast from an economist who was voted by the Wall Street Journal.
"Consumer confidence continues to be supported by strong job growth and thus has significantly improved despite political uncertainty and inflation expectations over the next 12 months," said Lynn Franco, executive director of The Economic Board.
Meanwhile, the Treasury's 10-year bond yield has dropped by 6 points to 2.41%. Although low yields are a good sign for investors in the short term, many investors and economists are still concerned about the low trend in the yield curve, which could indicate a recession.
Labor companies also gained momentum on Tuesday as the tight labor market means more businesses are turning to companies with employees to help fill their positions. Robert Half (RHI) exceeded 4% on Tuesday and passed 120.99 points from the handle of the cup holder. But the volume was weak.
TrueBlue (TBI) rose again to close to 33.01 trophy, surpassing 4% on Tuesday.
Oil Falls, Housing Benefit
Other declining oil prices have helped the stock market to increase its development. U.S. Price crude dropped 3% to $ 103 barrel after immersion below $ 100 early Tuesday.
Representatives of Russia and Ukraine met in Turkey today for peace talks. Previous negotiations have not been very successful as the war becomes a struggle.
Real estate has also benefited, as the report showed rising home prices increased in January as the supply of real estate declined to a new level. Real Estate Select Sector (XLRE) ETF increased by 1.5%.
The adjusted index for the Case-Shiller 20-city home price rose 1.8% in January. That marked an increase in the revised rate of up 1.4% in the previous month, and increased the forecast for an increase of 1.4%. The list of real estate at the end of January has dropped to the lowest level in history since the National Association of Realtors began tracking the amount of real estate available in 1999.
Stock Market Gains On Upbeat Corporate News
UnitedHealth Group (UNH) has announced that it has acquired LHC Group (LHCG). UnitedHealth Group has dropped by 0.4% in the news that it plans to acquire LHC Group for about $ 5.4 billion, or $ 170 a share. LHC shares rose by about 6%. LHC provides affordable home health care for nursing homes and other forms of services.
Nielsen Holdings (NLSN) increased by 20% after the Elliott Management division and Brookfield Asset Management (BAM) agreed to buy the company for $ 28. The deal is estimated at $ 16 billion including debt, reports The Wall Street Journal.
FedEx (FDX) rose 4.3% after a shipping giant said founder and CEO Fred Smith would step down as chairman on June 1. President and Chief Operating Officer Raj Subramaniam has been appointed as the new chief executive.
Rival United Parcel Service (UPS) came from the base of the cup with a handle with a shopping point of 222.67. Purchase area goes to 233.80.
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Courtesy Grizler.com
