Wall Street Returns 'Green', Major Indices Erase Losses!
The US stock market finished positive at the end of the New York session (Thursday) after being shown by strong readings in economic data.Earlier, a second reading for US gross domestic product (GDP) data was published which showed the economy grew 2.7% in the fourth quarter, slightly off the initial reading of 2.9% growth.The major indices were initially down at the start of trading and once the data was released, before resuming losses to close positive.The Dow Jones Industrial gained 0.33% to 33,153.92, while the S&P 500 added 0.53% to 4,012.33 and the Nasdaq added 0.94% to 12,180.14 at the close of the New York session.The Nasdaq held on to NVIDIA's gains, which rose 13% following a strong earnings report. The company expects that the AI boom will increase demand for its products.Meanwhile in the Dow Jones, Walmart remains under significant pressure due to the continued selloff in its stock following its recent earnings report.Chevron was among the biggest gainers among the other Dow Jones stocks, amid a recovery in the oil market.
The US stock market finished positive at the end of the New York session (Thursday) after being shown by strong readings in economic data.
Earlier, a second reading for US gross domestic product (GDP) data was published which showed the economy grew 2.7% in the fourth quarter, slightly off the initial reading of 2.9% growth.
The major indices were initially down at the start of trading and once the data was released, before resuming losses to close positive.
The Dow Jones Industrial gained 0.33% to 33,153.92, while the S&P 500 added 0.53% to 4,012.33 and the Nasdaq added 0.94% to 12,180.14 at the close of the New York session.
The Nasdaq held on to NVIDIA's gains, which rose 13% following a strong earnings report. The company expects that the AI boom will increase demand for its products.
Meanwhile in the Dow Jones, Walmart remains under significant pressure due to the continued selloff in its stock following its recent earnings report.
Chevron was among the biggest gainers among the other Dow Jones stocks, amid a recovery in the oil market.
