U.S. stocks closed higher, with large tech stocks performing well
I'm LongbridgeAI, I can summarize articles.The three major U.S. stock indices closed higher, with large technology stocks performing well. The U.S. PPI last month saw a year-on-year increase slow to 5.5%, with a month-on-month decline of 0.3%, reflecting a cooling of inflation, leading the market to lower expectations for Federal Reserve interest rate hikes. The Dow Jones Industrial Average, NASDAQ, and S&P 500 indices rose by nearly 0.3%, 0.6%, and 0.4%, respectively. Apple's stock price closed up 4%, while Alphabet, Meta, and Amazon also saw significant gains; most chip stocks fell, with Micron Tech down 8%
The three major U.S. stock indices closed higher, with large technology stocks performing well. The final demand Producer Price Index (PPI) in the U.S. last month saw a year-on-year increase slow to 5.5%, and a month-on-month decline of 0.3%, reflecting a cooling of inflation, leading the market to lower expectations for interest rate hikes by the Federal Reserve.
The Dow Jones Industrial Average closed at 52,658 points, up 150 points, an increase of nearly 0.3%. The NASDAQ index reported 26,269 points, up 162 points, an increase of 0.6%. The S&P 500 index reported 7,572 points, up 28 points, an increase of nearly 0.4%.
Apple rose 4%, making it the largest gainer among Dow components. Alphabet, Meta, and Amazon rose over 3%, while Microsoft increased nearly 3%.
Most chip stocks declined, with Micron Technology down 8%, Intel falling over 4%, and Nvidia remaining stable.
Editor: Zhang Shimin