Here Are 3 Hot Things to Know About Stocks Right Now
- Following the stock market rout on Monday, the Dow Jones Industrial Average, the S&P 500 and Nasdaq all started the day in correction territory, down 10% from their all-time highs.
- The tech-heavy Nasdaq was able to rally to close the session up after ending in negative territory in 11 of the past 15 sessions.
- The S&P 500 fell 2.2% on Monday and closed below its 200-day moving average for the first time since the U.K. voted to leave the European Union in June 2016.
Wall Street Overview
Stocks were able to stay afloat in choppy trading Tuesday, April 3, closing the day in the green.
The Dow Jones Industrial Average rose 387 points, or 1.64%, to 24,032. Leading the Dow higher were Nike Inc. (NKE) , UnitedHealth Group Inc. (UNH) and Johnson & Johnson (JNJ) .The S&P 500 closed the day up 1.26%.
The Nasdaq spent part of the afternoon in the red, but finished strong and rose 1.04%.
The selloff on Wall Street on Monday, April 2, marked the worst start to April since the Great Depression. Stocks plunged Monday, the first trading day of the second quarter, with the three major indexes tumbling into correction territory. The Nasdaq slumped 2.74%, led by a 5.2% drop in shares of Amazon.com Inc. (AMZN) after Donald Trump renewed his attacks on the the e-commerce giant, and a 2.8% decline for Facebook Inc. (FB) amid its widening data privacy scandal.
Amazon rose 1.46% on Tuesday, while Facebook climbed 0.46%.
Tesla Inc. (TSLA) said Tuesday production in the first quarter totaled 34,494 vehicles, a 40% increase from the fourth quarter. Tesla said it produced 24,728 Model S and Model X units in the first quarter. Deliveries totaled 29,980 vehicles, of which 11,730 were Model S, 10,070 were Model X and 8,180 were Model 3. The stock of the electric carmaker rose 5.96%.
Disclosures by Britain's Competition and Markets Authority on Tuesday showed that Fox has offered to transfer Sky News to a newly established private company as soon as reasonably possible after the Sky acquisition closes. Fox, in a statement, said that Disney has expressed interest in buying the news channel whether or not Disney's proposed $66 billion acquisition of Fox's entertainment assets proceeds.
Shares of Fox ended the day basically flat, while Disney rose 0.76%.
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