The US stock markets broke their downtrend and advanced during Wednesday’s trading. The gains were most evident among technology stocks.
During the day, market interest rates fell slightly. In the broad market, the S&P 500 index rose 0.81 percent to 4,263.75, while the technology-heavy Nasdaq Composite rose 1.35 percent to 13,236.01. Sector-wise, consumer durables had the best performance, up 1.97 percent, while energy was noted for the weakest development, minus 3.36 percent. In the broad market, the S&P 500 index increased by 0.81 percent to 4,263.75.
The S&P 500 index traded during the day within the range of -0.21 percent at the lowest and 0.92 percent at the highest. The technology-heavy Nasdaq Composite rose by 1.35 percent to 13,236.01. During the day, the index moved within the range of 0.10 percent at the lowest and 1.53 percent at the highest. Sector-wise, durable goods had the best development, plus 1.97 percent, while energy was noted for the weakest development, minus 3.36 percent. The music streaming service Spotify will include more than 150,000 audiobooks in its premium subscription at no additional cost.
The company’s audiobook service initially launched in several countries in September 2022 with more than 300,000 titles, but then on a pay-per-download basis. Spotify rose 3.3 percent. Moderna rose 1.1 percent after the biotech company announced positive results from the phase 1/2 study of mRNA-1083, which is a trial-based combination vaccine against influenza and covid. The yield on the US 10-year yield fell 7 basis points to 4.73 percent.
This morning the interest rate is quoted at 4.71 percent. Brent oil retreated 5.62 percent to 85.81 dollars and WTI oil fell 5.61 percent to 84.22 dollars. Brent today stands at $86.40, while the WTI quote is $84.70. The gold price (future) retreated 0.36 percent to $1,834.80.
Today, gold stands at $1,842.80. The dollar weakened to 1.0505 against the euro, from 1.0469 the day before. Today the dollar stands at 1.0523.
One dollar costs 11.0366 kroner today, compared to 11.0662 the previous trading day.