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Best day in four months
US stock indices ended Tuesday's trading up, with the Nasdaq Composite having its best session in four months amid a rebound in shares of major technology companies following a sell-off the day before.
The Dow Jones Industrial Average index rose 30.3 points (0.1%) to 31832.74. The Standard Poor's 500 rose 54.09 points (1.42%) to 3,875.44 points. The Nasdaq Composite added 464.66 points (3.69%) to 13073.82 points, its biggest one-day gain since November 4. On Monday the indicator went into correction zone for the first time since the beginning of September.
Among the top gainers yesterday were shares of Tesla (NASDAQ:TSLA) Inc. which rose 19.6%. The US electric car maker reached $673.58, the highest close of the week.
U.S. graphics chip maker Nvidia Corp (NASDAQ:NVDA). and payment service PayPal Holdings Inc. also rose, gaining 8% and 6.9%, respectively. Shares of Apple Inc. (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN). rose 4.1% and 3.8%, respectively.
U.S. GameStop Corp (NYSE:GME). shares jumped 26.9% after rising 41% on Monday.
The market value of Apollo Global Management Inc. fell 3.6%. The US investment fund is buying the remaining stake in insurance company Athene Holding Ltd. The total value of Athene in the deal is estimated at $11 billion.
The capitalization of General Electric Co. (NYSE:GE) is down 1.2%. The American concern is close to conclude a deal to sell its aircraft leasing division to Ireland's AerCap Holdings NV, WSJ writes citing knowledgeable sources.
American Airlines (NASDAQ:AAL) Group Inc. shares rose 0.6%. The U.S. airline plans to raise $7.5 billion to back its AAdvantage Loyalty program and repay a government loan it received in the pandemic.
Chevron Corp (NYSE:CVX). stock price was down 0.2%. One of the largest U.S. oil companies has set its sights on improving its return on equity and reducing its CO2 intensity, and has pledged to continue rewarding shareholders.
Tech stocks have come under pressure in recent weeks as a wave of sell-offs in the bond market has pushed up US Treasuries. US ten-year government bond yields fell to 1.538% p.a. on Tuesday. The previous day it had reached 1.594%, the highest in more than a year. At the start of the year it was below 1%.
