Nasdaq jumps 1% as tech stocks surge, S&P 500 ends higher as cool inflation data calms tariff jitters

U.S. stocks advanced on Wednesday as cooler-than-expected inflation data helped stanch a sharp selloff, while the escalation of U.S. President Donald Trump’s chaotic, multi-front tariff war kept gains in check.

The S&P 500 and the Nasdaq closed in positive territory, the latter enjoying a muscular boost from tech and tech-adjacent momentum stocks. The blue-chip Dow waffled between red and green for much of the session but ended modestly lower on the day.

The Labor Department’s Consumer Price Index showed consumer prices cooling more than analysts expected, providing reassurance that inflation is headed in the right direction and keeping hopes alive that the U.S. Federal Reserve could cut its key interest rate this year.

ALSO READUS consumer prices rise less than expected, all eyes on Powell’s speech on March 19

“We’re seeing a bounce today on the lower-than-expected inflation read and some dip buying,” said Greg Bassuk, CEO of AXS Investments in New York. “But Wall Street and Main Street are still looking for direction.”

“Investors’ hopefulness about inflation cooling is being mitigated by the ongoing trade-war strife,” Bassuk added. “And for that reason, we really expect the uncertainty and volatility to continue here through much of March.”

In his latest tariff salvo, Trump imposed 25% duties on imported steel and aluminum, prompting Canada and Europe to respond in kind, ramping up their retaliatory tariffs on U.S. exports.

U.S. equities have come under pressure amid the rising temperature of tit-for-tat tariff disputes between the United States and its trading partners, rattling investors and giving rise to fears that the resulting price jolts could tip the United States, along with Canada and Mexico, into recession.

Goldman Sachs lowered its year-end target for the S&P 500, while J.P. Morgan sees increasing odds of a U.S. recession.

With Wednesday’s advance, the S&P 500 is 8.9% below its all-time closing high reached less than a month ago. On Monday, the bellwether index dipped below its 200-day moving average, considered a significant support level, for the first time since November 2023.

On March 6, the tech-heavy Nasdaq dipped more than 10% below its record closing high reached on December 16, confirming it has been in a correction since then.

The Dow Jones Industrial Average fell 82.55 points, or 0.20%,

 » Read More

Related Articles

Unified Pension Scheme rules notified: Govt employees looking to opt for UPS must apply before…

The Pension Fund Regulatory and Development Authority (PFRDA) has issued new rules for implementing the Unified Pension Scheme (UPS) under the National Pension System (NPS). These rules, called “Pension Fund Regulatory and Development Authority (Operationalisation of Unified Pension Scheme under National Pension System) Regulations, 2025” have been notified on March 19, 2025, and will come

Accenture posts Q2 revenue at $16.7 billion, narrows full-year revenue growth outlook to 5-7%

Nasdaq-listed IT services major Accenture on Thursday reported its fiscal second quarter earnings report with revenue at $16.7 billion, posting a growth of 5 per cent in US dollar terms and 8.5 per cent in local currency. This was in line with the company’s guided range of $16.2 billion to $16.8 billion. “The foreign-exchange impact

UK-India free trade pact inches closer after years of delays: Report

The United Kingdom and India are reportedly on the verge of finalising a long-anticipated free trade agreement (FTA), according to senior Indian diplomat Nidhi Tripathi. Speaking at the British Chambers of Commerce trade conference in London, Tripathi, who serves as the economic minister in India’s High Commission, expressed optimism about the deal’s imminent completion, reports

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Unified Pension Scheme rules notified: Govt employees looking to opt for UPS must apply before…

The Pension Fund Regulatory and Development Authority (PFRDA) has issued new rules for implementing the Unified Pension Scheme (UPS) under the National Pension System (NPS). These rules, called “Pension Fund Regulatory and Development Authority (Operationalisation of Unified Pension Scheme under National Pension System) Regulations, 2025” have been notified on March 19, 2025, and will come

Accenture posts Q2 revenue at $16.7 billion, narrows full-year revenue growth outlook to 5-7%

Nasdaq-listed IT services major Accenture on Thursday reported its fiscal second quarter earnings report with revenue at $16.7 billion, posting a growth of 5 per cent in US dollar terms and 8.5 per cent in local currency. This was in line with the company’s guided range of $16.2 billion to $16.8 billion. “The foreign-exchange impact

UK-India free trade pact inches closer after years of delays: Report

The United Kingdom and India are reportedly on the verge of finalising a long-anticipated free trade agreement (FTA), according to senior Indian diplomat Nidhi Tripathi. Speaking at the British Chambers of Commerce trade conference in London, Tripathi, who serves as the economic minister in India’s High Commission, expressed optimism about the deal’s imminent completion, reports

KEI, Polycab, Finolex down as much as 14%. Here’s why

The cable industry is under significant pressure. Stocks like KEI, Polycab, Finolex down as much as 14% as the sector is worried about further disruption. Close on the heels of the Aditya Birla Group  announcing its foray into the wires and cable sector, Adani Group is set to enter this space as well.  Adani Enterprises in an

Why is the stock market up today? 3 reasons fueling the surge

The markets are on a high today. The Nifty has scaled past 23,100 for the first time after 23 sessions, up over 1% and the Sensex too has joined the party. The Benchmark 30-stock index is up 800 points and is inching closer to the 76,300 mark. What’s particularly heartening is the fact that the