Nasdaq Rises 1% as Tech Stocks Rally, While Dow Jones Struggles
Major stock indices closed mostly higher today, with Nasdaq and S&P 500 posted gains, fueled by strong performance in tech and AI stocks, while the Dow Jones lagged behind, weighed down by industrial and consumer defensive stocks.
Investor sentiment was influenced by weaker-than-expected CPI inflation data, which reinforced expectations for Federal Reserve rate cuts. Markets are now pricing in at least 76 basis points of cuts by the end of the year, providing further support for growth stocks, particularly in the technology sector.
Despite an early decline, the Nasdaq surged 1.22%, while the S&P 500 hit fresh highs. However, the Dow Jones slipped 0.20%, struggling to hold onto its early gains.
US Stock Market Closing Levels – March 13
US Stock Market Performance:
- Dow Jones Industrial Average: -82.55 points (-0.20%), closing at 41,350.93 – Slight decline after early gains faded.
- S&P 500 Index: +27.23 points (+0.49%), closing at 5,599.30 – Continued upward momentum, hitting a fresh record high.
- Nasdaq Composite: +212.35 points (+1.22%), closing at 17,648.45 – Tech stocks led the gains, driving the Nasdaq higher.
- Russell 2000: +2.87 points (+0.14%), closing at 2,026.46 – Small-cap stocks struggled for direction but ended slightly positive.
The Nasdaq and S&P 500 extended their rallies, supported by tech and growth stocks, while the Dow lagged behind, struggling to hold onto early gains. European markets saw mostly positive momentum, with Germany and Italy leading the charge, while Spain’s IBEX was the outlier with a decline.
European Markets Mostly Positive Despite Trade War Escalation
European stock markets saw a strong rebound, led by Germany’s DAX and Italy’s FTSE MIB, while Spain’s IBEX was the only major index to decline.
Tensions between the US and the European Union escalated after the White House imposed new tariffs on steel and aluminum imports from Europe. In response, the EU announced a €26 billion retaliatory measure. Additionally, President Trump signaled potential new tariffs on European automobiles set for April 2, increasing trade uncertainty.
European Stock Market Performance:
- German DAX: +1.5% – Strong performance, driven by industrial and tech sectors.
- France CAC 40: +0.6% – Gains supported by financials and luxury goods stocks.
- UK FTSE 100: +0.4% – Modest rise as energy and consumer stocks outperformed.
- Spain IBEX: -0.7% – The only major European index to decline, weighed down by banking stocks.
- Italy’s FTSE MIB: +1.6% – Led European gains, boosted by strong corporate earnings.
Tech Stocks Outperform as Markets Navigate Uncertainty
The Nasdaq and S&P 500 continue to benefit from AI and tech sector strength, while the Dow remains under pressure from economic concerns and sector rotation. Despite escalating trade tensions, European markets showed resilience, with only Spain’s IBEX closing lower.
Nasdaq Index Live Chart
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