US Markets Rise For Second Straight Day As Sentiment Improves

Mohammad Ali (@ChaudhryMAli88) Published April 24, 2024 | 08:10 AM

New York, (APP - UrduPoint / Pakistan Point News - 24th Apr, 2024) US stocks rose for a second straight session in New York Tuesday, building on the prior day's momentum following a round of mostly good corporate earnings, while European markets also rose.

Sentiment was upbeat across major world indices thanks to easing middle East worries, while traders are keenly awaiting the release this week of more major earnings and key US inflation data.

On Wall Street, the broad-based S&P 500 advanced 1.2 percent, while the tech-rich Nasdaq Composite Index jumped 1.6 percent, and the Dow Jones Industrial Average finished up 0.7.

General Electric, Spotify Technology and Kimberly-Clark were among the companies posting strong gains after releasing quarterly reports.

Briefing.com described the broad gains as "follow-through buying" after a rough period that generated talk that the market was oversold on a short-term basis.

Tesla earnings came after the closing bell, and showed a big drop in quarterly profits, putting elevated pressure on the electric vehicle market that has led to deep cost-cutting.

But traders ignored the gloomy results, pushing up the company's stock after hours by more than seven percent.

- Key figures around 2015 GMT -

New York - Dow: UP 0.7 percent at 38,503.69 points (close)

New York - S&P 500: UP 1.2 percent at 5,070.55 (close)

New York - Nasdaq Composite: UP 1.6 percent at 15,696.64 (close)

London - FTSE 100: UP 0.3 percent at 8,044.81 (close)

Paris - CAC 40: UP 0.8 percent at 8,105.78 (close)

Frankfurt - DAX: UP 1.6 percent at 18,137.65 (close)

EURO STOXX 50: UP 1.4 percent at 5,008.17 (close)

Tokyo - Nikkei 225: UP 0.3 percent at 37,552.16 (close)

Hong Kong - Hang Seng Index: UP 1.9 percent at 16,828.93 (close)

Shanghai - Composite: DOWN 0.7 percent at 3,021.98 (close)