US Stock Market Update: Dow jumps over 1,100 pts, Nasdaq 5 pts shy of 17,000 led by tech shares—Amazon, Apple among top blue-chip gainers

US Stock Market Update: Dow Jones Industrial Average (DJIA)—one of the two American blue-chip indices—surged 3-4 per cent on Wednesday amid strong buying interest in technology and consumer discretionary stocks, amid hopes of easing trade tensions between the world’s largest two economies. The Dow Jones surged as much as 1,189.1 points, or 3.0 per cent, to 40,376.1, while the S&P 500 climbed to as high as 5,469.7, up 181.9 points, or 3.4 per cent, from its previous close. The technology stocks-heavy Nasdaq Composite soared 694.4 points, or 4.3 per cent, to an intraday high of 16,994.8. 

Most sectors enjoyed buying interest, at least in the first few minutes of trade, with pockets such as industrials, financials and healthcare also at the forefront of the rally, spearheaded by technology and consumer discretionary stocks. 

Where Dow Jones, S&P 500, Nasdaq, Russell 2000 stood… 

At 10:06 am local time (7:35 pm in India), here’s how the main Wall Street indices fared:

• DJIA: up 1,086.6 points, or 2.8 per cent, at 40,273.6
• S&P 500: up 161 points, or 3.0 per cent, at 5,448.7 
• Nasdaq: up 635.8 points, or 3.9 per cent, at 16,936.2
• Russell 2000: up 71 points, or 3.8 per cent, at 1,961.3

All eyes were on the scheduled release of the Fed Beige Book, due later in the day. This is a special report that provides a qualitative summary of the economic conditions in the world’s largest economy. 

ALSO READ: US-China Trade War Escalates: China now faces up to 245% tariffs from US, says White House

US Share Market Triggers | Key things to track on April 23

Here are a few important things to watch out for on Wall Street on Wednesday.

• US crude oil stockpiles data
• Fed officials Adriana Kugler, Beth Hammack, Austan D Goolsbee and Christopher Waller scheduled to speak
• PMI data on US manufacturing and services
• Fed Beige Book

ALSO READ: Headwinds from global trade disruptions continue to pose downward risks: RBI Governor as Trump’s tariffs come into force

From Apple to Tesla to Amazon to Netflix to JPMorgan, here’s how some of the American blue-chip stocks fared

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