US Stock Market Ends the Day with Mixed Gains and Losses
The US stock market saw mixed gains and losses on Tuesday, with the three major indexes experiencing different outcomes. The Dow Jones Industrial Average rose by 31.99 points to close at 38884.26 points, an increase of 0.08%. The S&P 500 stock index rose by 6.96 points to close at 5187.7 points, a decrease of 0.13%, while the Nasdaq Composite Index fell by 16.69 points to close at 16332.56 points, a decrease of 0.10%.
Large-scale technology stocks saw a mix of rises and falls, with Tesla falling by more than 3% and Nvidia and Microsoft falling by more than 1%. On the other hand, GlobalFoundries rose by more than 7% and Google and Netflix rose by more than 1%. Amazon, Meta, and Apple also saw slight increases, with Amazon reaching a record high during the session. However, the aviation and energy sectors were among the top decliners, with Norwegian Cruise Line and Carnival Cruise Line falling by more than 3% and Plug Power, American Airlines, and United Airlines falling by more than 2%.
In terms of financial reports, Reddit’s first-quarter revenue and second-quarter revenue guidance exceeded expectations, leading to a more than 20% increase in its stock price after the bell. Electric vehicle manufacturer Lucid reported higher-than-expected revenue for the first quarter but also reported a loss, causing its stock to close down by 14.1%. U.S. electric vehicle manufacturer Rivian’s adjusted loss per share was higher than expected, resulting in a more than 5% decrease in its stock price after the bell. Occidental Petroleum, on the other hand, reported higher-than-expected adjusted earnings per share for the first fiscal quarter, although its stock price fell slightly after the bell.
Popular Chinese concept stocks experienced declines, with the Nasdaq China Golden Dragon Index falling by 2.12%. Companies like Xpeng Motors, Bilibili, and NetEase fell by more than 4%, while Alibaba, Baidu, and iQiyi fell by more than 2%. European Stock Market, on the other hand, saw gains across all three major indexes, with the Financial Times’ 100-stock average price index in London closing up by 1.22%, the CAC40 index in Paris up by 0.99%, and the DAX index in Frankfurt up by 1.40%.
In the commodity market, international oil prices fell slightly, with light crude oil futures for June delivery on the New York Mercantile Exchange closing down by 0.13% and London Brent crude oil for delivery in July down by 0.20%. International gold prices also ended lower, with the June COMEX gold futures contract falling by 0.30%.
Overall, the global market experienced a mix of gains and losses, with various factors influencing the performance of different sectors and indexes.