• Sun. Jun 23rd, 2024

Durable Goods Order Boost U.S Equities: Stock Market Snapshot for March 26, 2024

BySamantha Johnson

Mar 27, 2024
McCormick, Seagate Technology, and Tesla among other companies

On Tuesday, March 26, 2024, U.S equities rebounded from the previous day’s decline, thanks to a report of growth in durable goods orders for February. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all showed positive movement.

Leading the gains on the S&P 500 was McCormick & Company, whose shares surged after exceeding profit and sales estimates. Higher prices drove up investor confidence in the company. Meanwhile, Seagate Technology experienced an increase in shares following an upgrade from Morgan Stanley, which predicted increased margins due to demand for artificial intelligence. Tesla also saw a boost in shares after Elon Musk announced a free one-month trial of its driver-assist system.

On the downside, 3M saw a decline in shares as it neared a settlement for litigation over claims of hearing loss from military earplugs. Oil futures remained relatively stable, while gold futures and the yield on the 10-year Treasury note also showed little change. However, the U.S dollar strengthened against several major currencies. Trading in cryptocurrencies showed mixed results.

Overall, despite some fluctuations in specific stocks and commodities, U.S equities continued their upward trend on Tuesday thanks to positive news about durable goods orders and favorable market conditions for certain companies and sectors.

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

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