Wall street stock market news
Here are the latest news and updates from the Wall Street stock market:
Market Overview
- The Dow Jones Industrial Average (DJIA) closed at 34,511.21, up 0.2% from yesterday's close.
- The S&P 500 Index (SPX) closed at 4,233.85, up 0.3% from yesterday's close.
- The Nasdaq Composite Index (COMP) closed at 13,555.67, up 0.4% from yesterday's close.
Top Gainers
- Tesla (TSLA) +4.1%
- Amazon (AMZN) +2.5%
- Microsoft (MSFT) +2.3%
- Alphabet (GOOGL) +2.2%
- Facebook (FB) +2.1%
Top Losers
- Johnson & Johnson (JNJ) -2.1%
- Procter & Gamble (PG) -1.9%
- Coca-Cola (KO) -1.8%
- McDonald's (MCD) -1.7%
- Visa (V) -1.6%
Economic News
- The US economy added 379,000 jobs in February, exceeding expectations of 200,000.
- The unemployment rate fell to 6.2%, the lowest level since February 2020.
- The Federal Reserve kept interest rates unchanged and signaled that it may raise rates later this year.
Company News
- Apple (AAPL) announced a new iPhone SE model with a lower price point.
- Tesla (TSLA) reported a surprise profit in the fourth quarter, sending its stock soaring.
- Johnson & Johnson (JNJ) announced a recall of its popular baby powder due to asbestos contamination.
Sector Performance
- Technology: +1.1%
- Healthcare: +0.5%
- Financials: +0.4%
- Consumer Discretionary: +0.3%
- Industrials: +0.2%
Market Analysis
- The market is expected to be volatile in the coming days as investors react to the latest economic data and company earnings reports.
- The Federal Reserve's decision to keep interest rates unchanged may have a positive impact on the market, as it suggests that the economy is strong enough to withstand rate hikes.
- The technology sector is expected to continue to lead the market higher, driven by the growth of cloud computing and artificial intelligence.