Newsblare

Top 50            Stocks to Buy

Advisor Network Commodities & Currency Economic & Finance Market Overview Stocks & Funds

Stock market updates: Gold rallies as stocks decline 

stock market updates

In the US, the stocks saw a decline on Monday as investors overall markets took a relief following the 5 straight winning weeks. Talking about the stock market updates, Dow Jones Industrial Average saw a decline of ~41.06 points, or 0.11%, to end the session at ~36,204.44, while S&P 500 fell by ~0.54% to ~4,569.78. Nasdaq Composite shed ~0.84% to sit at ~14,185.49 because global investors sold their big tech shares which were responsible for much of the market’s gains this year. 

While stocks saw decline, the momentum was seen in other asset classes. Bitcoin and gold saw an increase in the first day of the week, with Bitcoin crossing ~$41,000 mark to touch a 19-month high, and gold reaching highest intra-day level ever. Given the increase in the Bitcoin, Marathon Digital and Riot Platforms both climbed by over ~8%. MicroStrategy and Coinbase saw an increase of ~6.7% and ~5.5%, respectively. Alaska Air Group saw a decline of ~14.2% after the news regarding its acquisition of Hawaiian Airlines for the consideration of $1.9 billion. This acquisition forms part of Alaska’s expansion efforts along the West Coast. 

S&P 500 saw its highest close since the month of March 2022 on Friday, which brough its YTD gains to ~20%. Blue-chip Dow Jones saw an increase of more than ~9% for the entire year, with Nasdaq Composite increasing ~35% in 2023. 

Coming to the stock market updates in India, indexes made new all-time highs on Monday. Rally was widely supported by the strong domestic macroeconomic data and expectations that the US Fed Reserve might go for a rate cut in March. Apart from these reasons, ruling Bharatiya Janata Party’s win in critical state elections aided the increased momentum. Nifty50 ended at ~20,686.80, exhibiting a rise of ~419 points, with Sensex adding ~1,384 points to close the day at ~68,865.12.

Oil increased and gold traded at its record level because investors continued to keep a close look on geopolitical tensions in Middle East. 

Elsewhere, France’s CAC 40 saw a decline of ~0.4% to 7,318.01, and Germany’s DAX ended flat at ~16,307.11. Britain’s FTSE 100 fell by ~0.6% to close the session at ~7,486.18. 

Hong Kong’s Hang Seng shed ~1.1% to end at 16,646.05, with Shanghai Composite edging ~0.3% lower to close at 3,022.91. 

Japan’s benchmark Nikkei 225 saw a decline of ~0.6% to end at ~33,231.27. However, Australia’s S&P/ASX 200 went up by ~0.7% to end at 7,124.70 and South Korea’s Kospi grew by ~0.4% to 2,514.95.

Read Also:

CEO & Editor
I'm Ved Prakash, Founder & Editor @Newsblare Media, specialised in Business and Finance niches who writes content for reputed publication such as Investing.com, Stockhouse.com, Motley Fool Singapore, etc. I'm the contributor of different... news sites that have widened my views on the current happenings in the world.

Leave a Reply

Your email address will not be published. Required fields are marked *