Tech Titans Lead U.S Equities Rebound as Growth in Durable Goods Orders Drives Stock Market Positivity

By Eleanor Harrison Mar27,2024
McCormick, Seagate Technology, and Tesla among other companies

On March 26, 2024, U.S equities experienced a turnaround after a decline the previous day. The catalyst for this growth was a report indicating growth in durable goods orders for February. The Dow, S&P 500, and Nasdaq all showed positive movement.

Leading the gains on the S&P 500 was McCormick & Company, with shares surging after surpassing profit and sales estimates. This success was attributed to higher prices, which boosted investor confidence in the company.

Seagate Technology also saw an increase in shares after an upgrade from Morgan Stanley, which cited the potential for increased margins due to demand for artificial intelligence. Tesla, under the leadership of Elon Musk, announced a free one-month trial of its driver-assist system, leading to an increase in shares for the electric vehicle manufacturer.

On the downside, 3M saw a decline in shares as the company announced it was nearing a settlement for litigation over claims of hearing loss from military earplugs. Oil futures, gold futures, and the yield on the 10-year Treasury note remained relatively stable while the U.S dollar strengthened against several major currencies. Trading in cryptocurrencies showed mixed results.

By Eleanor Harrison

As a content writer at newseasoning.com, I infuse flavor into words, crafting compelling stories that captivate and inform our audience. With a keen eye for detail and a passion for creativity, I strive to create content that not only engages but also inspires. Whether I'm concocting a savory blog post or whipping up a spicy product description, I pour my heart and soul into every piece I write. Join me on this flavorful journey as we explore the tantalizing world of content creation together.

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