US Markets
Home›US Markets›Indices›Wall Street edges higher as US-Iran tensions and AI st…
Wall Street edges higher as US-Iran tensions and AI stocks offset
S&P 500 and Dow both gained by midday, while the 10-year Treasury yield stayed at 4.79% and the 2-year yield held at 4.39% as markets digested ADP’s smaller August private payroll increase.
Wall Street rose on Wednesday as investors balanced renewed US-Iran clashes with continued strength in artificial intelligence linked stocks, according to LiveMint Markets. By 12:03 p.m. Eastern Time, the S&P 500 was up 0.6%, the Dow Jones Industrial Average gained 0.5%, and the Nasdaq Composite rose 0.5%.
At the open, the Dow rose 62.7 points, or 0.12%, to 52,829.58, while the S&P 500 increased 0.04% to 7,634.58 and the Nasdaq nudged lower to 26,094.004, down 0.02%. Oil prices retreated from recent gains, and Treasury yields were broadly stable as markets weighed geopolitical risk and new economic data.
LiveMint Markets reported that the yield on the benchmark 10-year US Treasury remained at 4.79% unchanged from Tuesday, with the 2-year yield steady at 4.39%. ADP data showed private-sector employment increased by 38,000 in August, which was lower than the prior month’s growth and below analysts’ expectations ahead of the government’s official jobs report due Friday.
In individual stocks, Nvidia shares rose 1.2% while Tesla fell 1%, and Microsoft declined 0.6% with Broadcom down 0.8%. Bank shares climbed, with JPMorgan Chase up 0.8% and Bank of America up 1.3%, while Jack Daniel maker Brown-Forman rose 4.2% after beating first-quarter profit estimates and Chevron was down 0.1% after outlining plans to expand operations in Venezuela. Gold rebounded, with spot gold up 1.1% to $4,373.87 an ounce by 9:57 a.m. EDT.
Latest closeGold $4,431.70 ▲1.9%|S&P 500 7,666.60 ▲0.5%|Nasdaq Comp. 26,217.83 ▲0.5%