The US stock market rose to its highest level in three days | Financial Markets


The S&P 500 rose 0.9 percent as major players including Apple and Tesla saw gains.

The US stock market has risen sharply after several sessions of trading declines.

All three major indexes rose on Wednesday, ending three days.

The S&P 500, which tracks the performance of 500 of the largest US companies, ended up 0.9 percent on Wednesday, surpassing last week’s record.

The increase puts the benchmark index up 10 percent so far in 2024.

The Dow Jones Industrial Average and the Nasdaq Composite rose 1.22 percent and 0.51 percent, respectively.

Among the major industry players, Apple and Tesla rose 2.12 percent and 1.22 percent, respectively, while semiconductor company Nvidia Corp fell 2.5 percent.

Pharmaceutical giant Merck rose 5 percent after announcing that the US Food and Drug Administration had approved its drug Winrevair for the treatment of severe pulmonary arterial hypertension.

Cruise line Carnival rose 1 percent after the company raised its earnings and revenue and revised its price down.

Cintas, the office supplies company, rose 8.2 percent after reporting better-than-expected profit for the latest quarter.

Trump Media & Technology Group, the former company of US President Donald Trump, rose 14.2 percent, continuing its rally after a 16 percent rise in its stock market the previous day.

Investors are anticipating the release of key U.S. economic data this week, including revised numbers on unemployment, domestic sales and consumer sentiment.



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