Wall Street's Vibe Stays Swingin' as Tech Values Rock On
Tech prices maintain a steep upward trajectory
Want to know what's happening on the stock market? You're in luck, bud! Wall Street's still riding high after the wild storm it faced at the start of the week. Only the Dow took a nosedive, thanks to the downturn in UnitedHealth's stock. US investors are grabbing the chance to get back into gold.
Here's the lowdown on what went down:
- The Nasdaq sprang up 1.6% on Tuesday, reaching a whopping 19,010 points.
- The S&P 500 gave a 0.7% gain, ending the day at 5,886 points.
- Now, about the Dow Jones—it took a tumble, dropping 0.6%, mainly due to that slip in UnitedHealth's stock, closing at 42,140 points.
Looks like that unexpected U.S. inflation report had a positive impact on tech-heavy U.S. indices. But hey, wonderin' about that drop in inflation? Guess what—it fell to 2.3% in April, soon as President Donald Trump declared his tariff announcements. That's quite a dip from the 2.4% in March! Ya know what they say—markets ain't behaving the way economists expected, but inflation's been fairly steady.
Now, let's talk about some interesting stuff:
- The Dollar Index took a hit, sinking 0.8% to 100.967 points, after rallying more than 1% at the start of the week. Seems like the U.S. and China's squeeze is easin' up after weeks of tensions. The trade deal's a lot better than folks thought, say experts.
- Investors got a chance to get back into gold. The precious metal bumped up half a percent to $3,248 per troy ounce, havin' fallen 3.5% the day before.
Coinbase Kicks Off S&P 500 Party!
But the real star of the show was folks' favorite crypto exchange, Coinbase! They skyrocketed, gainin' nearly 24% on a certain day. Guess what? Coinbase's gonna shake things up on May 19, 2025, as they join the grand ol' S&P 500, replace Wisconsin's Discover Financial. Before you start questionin'—yep, Coinbase will be the first company from the crypto industry to step foot in this esteemed index.
There were plenty of other stocks grabbing attention as well:
- Nike was a hot item, soaring 11.8%. The resurgence of Nike's iconic sneakers supported by tennis legend Roger Federer is pumpin' up the company's spirits, despite US trade policy restrictions.
- Investors dove headfirst into Nvidia. The chipmaker and the AI start-up Humain teamed up. Nvidia shares rose 5.6% thanks to this partnership.
- Now, brace yourselves—UnitedHealth took a hit, plummeting nearly 18%. The CEO, Andrew Witty, is stepping down for personal reasons, and the company pulled the ol' rug on their 2025 forecast.
- Lastly, Hertz was a disaster, with their shares plummeting nearly 17% after disappoin' investors with their shoddy quarterly results.
So, that's what's shakin'! Keep your eyes peeled for further market updates.
Source: ntv.de, ino/rts
- Stock Prices
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- Wall Street
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- The community may need to reevaluate its investment policy, taking into account the significant surge in Coinbase's stock price, which marked its entry into the S&P 500.
- Employment policy should consider the recent departure of UnitedHealth's CEO, Andrew Witty, and its impact on the company's financial health and stock value.
