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<US>DJIA Ends Down ~300Pts; Tesla Soars 2%; Focus on Oil Prices and Inflation
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US stocks were in a mixed bag on Wednesday as the International Energy Agency (IEA) agreed to release 400 million barrels of oil, marking the largest scale ever, paired with the moderate increase in US February inflation data, which met market expectations. The DJIA sagged 289 points or 0.6% to close at 47,417; the S&P 500 dipped 5 points to close at 6,775; and the Nasdaq managed to hold steady, closing up 19 points to 22,716. On the back of the low base effect, Tesla (TSLA.US) logged a 91% YoY spike in sales of China-made electric vehicles last month, with Tesla's stock price closing up 2.1% on Wednesday. Apple's (AAPL.US) foldable-screen iPhone is set to launch later this year, with the stock remaining nearly flat. Other "Magnificent Seven" stocks jumbled, with NVIDIA (NVDA.US), Alphabet (GOOG.US), and Meta (META.US) each rising less than 1%. Oracle (ORCL.US) performed impressively on Wednesday, with its stock price soaring 9%. The company's third-quarter earnings and revenue both exceeded analyst expectations, while the company raised its revenue target for FY27. AASTOCKS Financial News Website: www.aastocks.com AASTOCKS Financial News |
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