Fed Rate Decision Due Today: Dow jumps over 350 pts, Nasdaq crosses 17,700 led by tech stocks—Tesla jumps to $237

US Stock Market Update (March 19), Dow Jones, Fed Rate Decision: US equity benchmarks Dow Jones Industrial Avearge (DJIA), S&P 500 and Nadsaq Composite staged sharp gains on Wednesday ahead of a key rate decision and economic projections by the Federal Reserve due later in the day. Buying interest in technology, consumer discretionary, energy and industrial shares drove the gains on Wall Street, though selling pressure in consumer staple and healthcare spaces limited the upside.

The DJIA gained as much as 362.3 points, or 0.9 per cent, to touch 41,943.7 on the upside, while the S&P 500 added 54.3 points (1.9 per cent) to 5,668.9 and the American technology stocks-heavy Nasdaq Composite reached as high as 17,725.2, up 221.1 points, or 1.3 per cent, from its previous close. 

Among index heavyweights, Tesla rose surged around five per cent to touch $237 apiece. Boeing shares rocketed more than 7 per cent to $173 apiece.

Meanwhile, growing concerns about US President Donald Trump’s aggressive stance and action on the trade front, and retaliatory action by America’s major trade partners coming in the way of economic growth, kept investors cautious, preventing further upside on Wall Street.

US Stock Market on Wednesday, March 19 | Here is how Dow Jones, S&P 500 & Nasdaq fared

At 12:30 pm Eastern Time, (10 pm in India), this is where the main American indices stood:

• DJIA: up 292.2 points, 0.7 per cent, at 41,873.5
• S&P 500: up 46.3 points, or 0.8 per cent, at 5,661
• Nasdaq Composite: up 188.9 points, or 1.1 per cent, at 17,693
• Russell 2000: up 17.4 points, or 0.9 per cent, at 2,067.3

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Top Dow Gainers vs Losers

Except eight stocks, all Dow constituents were in the green zone.

Now, let's take a look at some of the top gainers and losers in the tech stocks-driven Nasdaq basket. 

Top Nasdaq Gainers vs Losers

Here’s how some of the prominent names fared:

With inputs from agencies

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