US stock market today: Dow Jones jumps over 100 pts, S&P 500, Nasdaq fail to keep up amid volatile day on Wall Street
US stock market today: The three main indices of the US stock market staged mixed moves on Tuesday, mirroring moves across their Asian and European peers, as a deal between First Citizen and the failed Silicon Valley Bank (SVB) aided the sentiment in banking shares but caution persisted among investors about higher-for-longer benchmark interest rates. Banking stocks have been rocked over the past few weeks thanks to the sudden collapse of SVB and fresh problems at Credit Suisse followed by its takeover.
US stock market today: The three main Wall Street indices — the Dow Jones, the S&P 500 and the Nasdaq Composite — saw mixed moves in a choppy session on Tuesday, reflecting the trend across their Asian and European peers. Equities globally took mixed signals with the news of First Citizens acquiring much of the failed Silicon Valley Bank (SVB) bringing a sigh of relief to investors, and concerns about higher-for-longer interest rates amid fears of at least a mild recession in the world's largest economy.
Over the past few weeks, banking shares have been rocked thanks to fears of contagion in the space following the sudden collapse of SVB and a last-minute bailout of the troubled Credit Suisse.
Investors, however, remain focused on the next set of vulnerable lenders across the banking system around the globe.
Wall Street today: US stock market at 11:20 am on Wall Street (8:50 pm India time)
At 8:50 am India time, the three main US stock market indices saw mixed moves, with:
- the Dow Jones up 58.1 points or 0.2 per cent at 32,490.2, having risen as much as 118.9 points or 0.4 per cent to 32,551 earlier in the day;
- but the S&P 500 down 7.4 points or 0.2 per cent at 3,970.1,
- and the US tech stocks-heavy Nasdaq Composite down 75.5 points or 0.6 per cent at 11,693.3
Earlier in the day, the S&P 500 fell as much as 17.5 points or 0.4 per cent to 3,960 and the Nasdaq Composite descended to as low as 11,657.6, shedding 75.5 points or 0.6 per cent from its previous close.
In the 30-scrip Dow Jones basket, 18-odd stocks held on to the green with Walgreens Boots, Boeing and Dow Inc being the top gainers, rising around 1-4 per cent each. On the other hand, American Express, Microsoft and Apple — declining around one per cent each — were the top laggards in the blue-chip pack.
Dow LIVE: Top gainers
| Stock | Price ($) | Change (%) |
| Walgreens Boots Alliance (WBA) | 34.12 | 3.58% |
| Boeing (BA) | 205.62 | 2.52% |
| Dow Inc (Dow) | 52.715 | 1.38% |
| Chevron Corp (CVX) | 159.45 | 1.14% |
| 3M Co (MMM) | 102.28 | 0.78% |
| Caterpillar Inc (CAT) | 219.65 | 0.76% |
| McDonald’s Corp (MCD) | 275.595 | 0.64% |
Dow LIVE: Top losers
| Stock | Price ($) | Change (%) |
| American Express (AXP) | 161.16 | -1.20% |
| Microsoft Corp (MSFT) | 273.56 | -1.02% |
| Apple (AAPL) | 156.87 | -0.89% |
| Merck & Co (MRK) | 106.353 | -0.54% |
| Nike (NKE) | 117.49 | -0.27% |
| Cisco Systems (CSCO) | 50.443 | -0.19% |
| Walt Disney (DIS) | 95.48 | -0.15% |
In the 500-scrip S&P index, McCormick, Carnival Corp and Bath & Body Works — strengthening 5-9 per cent each — rose the most among the 330-odd gainers.
Top S&P 500 gainers
| Stock | Price ($) | Change (%) |
| McCormick & Company (MKC) | 80.67 | 8.93% |
| Carnival Corp (CCL) | 9.31 | 5.92% |
| Bath & Body Works (BBWI) | 38.41 | 4.69% |
| Walgreens Boots Alliance (WBA) | 34.37 | 4.34% |
| Occidental Petroleum Corp (OXY) | 61.848 | 3.68% |
Top S&P 500 losers
| Stock | Price ($) | Change (%) |
| Monolithic Power Systems (MPWR) | 465.93 | 3.50% |
| First Republic Bank (FRC) | 13.375 | 3.22% |
| Advanced Micro Devices (AMD) | 93.51 | 3.21% |
| CDW Corp (CDW) | 185.78 | 3.07% |
| Seagate Technology Holdings (STX) | 60.15 | 3% |
Global market update: How the other major markets around the globe fared
MSCI's All-Country World Index (ACWI) — which aims to capture major moves across global markets — held on to a gain of 0.2 per cent. Earlier in the day, the index provider's broadest gauge of Asia Pacific shares outside Japan rose 0.7 per cent.
European markets began the day higher, with the pan-continental Stoxx 600 index last up 0.2 per cent after rising as much as 0.8 per cent in mid-day deals.
Back home, equity benchmarks Nifty and Sensex finished a choppy session with minor losses, as gains in financial shares were outweighed by losses in IT and auto stocks. The Nifty lost 34 points or 0.2 per cent of its value for the day to settle at 16,951.7 after broadly moving within the 16,900-17,100 band during the session.
The Sensex ended down 40.1 points or 0.1 per cent lower for the day at 57,613.7, having gyrated in a range of more than 450 points around the flatline in intraday trade. Catch highlights of the March 28 session in the Indian share market
Here's a list of key triggers for the US stock market on March 28:
Investors will look out for a slew of important cues during the course of the day, including:
- Housing prices data
- Consumer confidence data
- Fed Governor Michael Barr due to speak
- Wholesale inventories data
How the US stock market fared on Monday
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