Wall Street Rises as Tech Stocks Jump, Gold Falls to $5,149
New York: Wall Street closed higher on Tuesday after technology stocks moved up strongly. At the same time, gold prices fell to $5,149 per ounce, moving down from a three-week high.
The market improved after sharp ups and downs earlier this week. On Monday, stocks dropped heavily. However, investors returned on Tuesday and pushed prices higher. Technology and semiconductor companies led the gains.
The S&P 500 rose by 52.70 points, or 0.77 percent, to close at 6,890.45 points. The Nasdaq Composite climbed 239.91 points, or 1.06 percent, to finish at 22,867.18 points. Meanwhile, the Dow Jones Industrial Average added 377.40 points, or 0.77 percent, ending the day at 49,181.46 points.
In the commodities market, gold prices moved lower. Spot gold traded at $5,149.20 per ounce late in the evening. Earlier, US gold futures for April delivery settled 0.9 percent lower at $5,176.30. The drop happened as the US dollar strengthened and Treasury yields showed mixed movement. Investors are now waiting for comments from Federal Reserve officials for more guidance.
Other precious metals showed mixed results. Spot silver fell 1.2 percent to $87.21 per ounce after reaching a two-week high in the previous session. In contrast, platinum rose 1 percent to $2,175.95. Palladium also increased 2.3 percent to $1,785.35.
